Mondi plc
(Incorporated in England and
Wales)
(Registered number: 6209386)
LEI: 213800LOZA69QFDC9N34
LSE share code:
MNDI
ISIN: GB00B1CRLC47
JSE share code: MNP
16 August 2022
Mondi to acquire Duino mill
Mondi plc (‘Mondi’) has agreed to acquire the Duino mill near
Trieste (Italy) from the Burgo
Group for a total consideration of €40 million. The mill currently
operates one paper machine producing lightweight coated mechanical
paper. Mondi plans to convert this paper machine to produce around
420,000 tonnes per annum of high-quality recycled containerboard
for an estimated investment of around €200 million.
Close to two important export harbours, Duino is ideally located
to supply the Group’s Corrugated Solutions plants in Central Europe and Turkey as well as to serve the growing local
Italian market. The containerboard machine will strengthen backward
integration in Corrugated Packaging and provide us with security of
supply to better serve our customers.
Commenting on the acquisition, Andrew King, Group CEO of
Mondi, said: “We are excited by this opportunity to invest in the
growth of our packaging business, build on our integrated platform
and broaden our geographic reach.”
The acquisition is subject to competition clearance and other
closing conditions and completion is expected in the second half of
the year.
Enquiries
Investors/analysts:
Clara Valera
+44 193 282 6357
Mondi Group Head of Strategy and Investor
Relations
Media:
Kerry
Cooper
+44 788 145 5806
Group Communication Director
Richard Mountain (FTI
Consulting)
+44 790 968 4466
About Mondi
Mondi is a global leader in packaging and paper, contributing to
a better world by making innovative solutions that are sustainable
by design. Our business is integrated across the value chain – from
managing forests and producing pulp, paper and films, to developing
and manufacturing sustainable consumer and industrial packaging
solutions using paper where possible, plastic when useful.
Sustainability is at the centre of our strategy, with our ambitious
commitments to 2030 focused on circular driven solutions, created
by empowered people, taking action on climate.
In 2021, Mondi had revenues of €7.0 billion and underlying
EBITDA of €1.2 billion from continuing operations, and employed
21,000 people worldwide. Mondi has a premium listing on the London
Stock Exchange (MNDI), where the Group is a FTSE100 constituent,
and also has a secondary listing on the JSE Limited (MNP).
mondigroup.com
Sponsor in South Africa:
Merrill Lynch South Africa Proprietary Limited t/a BofA
Securities.