Mondi Group completes acquisition of PowerflutePublication Date:
01 June 2018
London, 1 June 2018 – Further to the announcement made on 22 December 2017, Mondi confirms that all conditions have been satisfied and it has completed the acquisition of 100% of the outstanding shares in Powerflute Group Holdings Oy (“Powerflute”), a division of Nordic Packaging and Container Holdings, for a total consideration of €365 million on an enterprise value basis.
Powerflute operates an integrated pulp and paper mill in Kuopio (Finland) with an annual production capacity of 285,000 tonnes of high-performance semi-chemical fluting. The business will be integrated into Mondi’s Packaging Paper business unit.
Commenting on the acquisition, Mondi Group CEO Peter Oswald said, “We are excited to have completed this acquisition, which supports our strategy of investing in high-quality packaging and paper assets, further broadens our containerboard product range, and extends our geographic reach.”
Kerry Cooper, Mondi Group
Tel: +44 1932 82 6323
Email: [email protected]
Mondi is a global leader in packaging and paper, delighting its customers and consumers with innovative and sustainable packaging and paper solutions. Mondi is fully integrated across the packaging and paper value chain - from managing forests and producing pulp, paper and plastic films, to developing and manufacturing effective industrial and consumer packaging solutions. Sustainability is embedded in everything Mondi does. In 2017, Mondi had revenues of €7.10 billion and underlying EBITDA of €1.44 billion.
Mondi has a dual listed company structure, with a primary listing on the JSE Limited for Mondi Limited under the ticker MND, and a premium listing on the London Stock Exchange for Mondi plc, under the ticker MNDI. Mondi is a FTSE 100 constituent, and has been included in the FTSE4Good Index Series since 2008 and the FTSE/JSE Responsible Investment Index Series since 2007.