New state-of-the-art facility in Kenosha, Wisconsin to strengthen Mondi´s offering for specialized release liner in North America
Mondi Akrosil LLC has entered into an Asset Agreement with Nitto Americas regarding their recently discontinued facility (to be named Mondi Kenosha) in Pleasant Prairie, Wisconsin.
Mondi Akrosil LLC has entered into an Asset Agreement with Nitto Americas regarding their recently discontinued facility (to be named Mondi Kenosha) in Pleasant Prairie, Wisconsin. The transaction is subject to the normal procedures and conditions, including completion of the due diligence process and regulatory clearances.
Thomas K. Schäbinger, CEO of Mondi Coatings, said that “this acquisition enables Mondi Kenosha to add nearly 4.8 billion square feet (450 million equivalent square metres) of highly competitive capacity and it will complement the existing facilities in Menasha, Wisconsin and Lancaster, Ohio. This investment proves, once again, Mondi’s commitment to the growing North American release liner market and will enable us to increase the pace and quality of our service.”
Mondi will purchase the 168,000 square foot building, 60 acres of land, and other outstanding assets. The new state-of-the-art facility provides ample room for expansion and is an excellent value in terms of building, land and coating assets, initially including two flexible, high-speed coating lines. “This deal benefits our customers with a broader product portfolio and shorter delivery times”, notes Mark Rostagno, VP Mondi Akrosil.
Mondi intends to develop the Kenosha facility into Mondi’s leading plant for specialized release liners in the rising US market and beyond. “This investment supports our goal of becoming the leading merchant release liner supplier in North America – this capacity increase has become necessary to meet customer service level expectations in our expanding business”, explains Thomas K. Schäbinger.
About Mondi Coatings
Mondi Coatings, a Business Unit of the Europe & International Division, is an innovative supplier of plastic- and paper-based materials, providing technologies such as extrusion coating, laminating, siliconising and printing. The product range covers efficient barrier materials for industrial papers, technical products as well as applications for the food- & non-food industry. Customised release liner for the pressure sensitive adhesives industry completes the portfolio. Through its transatlantic production and worldwide sales network Mondi Coatings provides global customer service and continues to drive innovation in the industry.
Mondi is an international paper and packaging company, with production operations across 31 countries and revenues of €5.3 billion in 2009. The Group’s key operations are located in western and emerging Europe, Russia and South Africa and employed 31,000 people on average in 2009. Mondi is fully integrated across the paper and packaging process, from the growing of wood and the manufacture of pulp and paper (including recycled paper), to the conversion of packaging papers into corrugated packaging and industrial bags. The Group is principally involved in the manufacture of uncoated fine paper (UFP), packaging paper and converted packaging products, as well as speciality products. Mondi is a dual listed company, with primary listings on the Johannesburg and London stock exchanges under the ticker codes MND (JSE) and MNDI (LSE) respectively. The Group has been recognised for its sustainability performance through its inclusion in the FTSE4Good UK, Europe and Global indices in 2008 and 2009 and the JSE’s Socially Responsible Investment (SRI) Index in 2007, 2008 and 2009.
Last change: 06/07/2010