MONDI PLC - Mondi to upgrade and expand Kuopio mill in Finland
PR Newswire
London, June 22
Mondi plc
(Incorporated in England and Wales)
(Registered number: 6209386)
LEI: 213800LOZA69QFDC9N34
LSE share code: MNDI ISIN: GB00B1CRLC47
JSE share code: MNP
23 June 2021
Mondi to upgrade and expand Kuopio mill in Finland
Mondi, a global leader in sustainable packaging and paper, has approved a €125 million capital investment project at its semi-chemical fluting mill in Kuopio, Finland. This investment will increase the facility's capacity by around 55 thousand tonnes per annum to meet growing customer demand; enhance product quality and cost-competitiveness; and strengthen the mill's environmental performance.
The project includes an upgrade of the wood yard, fibre line, evaporation plant and paper machine. Start-up is planned for the fourth quarter of 2023.
ProVantage Powerflute, the semi-chemical fluting produced at the mill, is a high performance and top quality containerboard grade. Due to its high strength, moisture resistance and durability, it is a key component of fresh fruit and vegetable trays and boxes as well as specialised applications. Fit-for-purpose packaging plays an important role in protecting fresh produce, which is vital considering approximately a third of the world's food is lost or wasted every year. ProVantage Powerflute is ideally placed to meet the growing demand for paper-based fresh food packaging solutions that are sustainable by design, thereby minimising food waste and reducing the use of unnecessary plastic.
Andrew King, Group CEO commented: "We are pleased to continue building our portfolio of sustainable packaging to meet our customers' needs, leveraging the opportunities offered by our integrated, cost-advantaged asset base."
Contact details:
| Mondi Group | |
| Clara Valera Group Head of Strategy and Investor Relations | +44 1932 826 357 |
Suvra Jans Senior Media Relations Manager | +44 1932 826 333 |
About Mondi
Mondi is a global leader in packaging and paper, contributing to a better world by making innovative packaging and paper solutions that are sustainable by design. Our business is integrated across the value chain - from managing forests and producing pulp, paper and plastic films, to developing and manufacturing effective industrial and consumer packaging solutions. Sustainability is at the centre of our strategy and intrinsic in the way we do business. We lead the industry with our customer-centric approach, EcoSolutions, where we ask the right questions to find the most sustainable solution. In 2020, Mondi had revenues of €6.66 billion and underlying EBITDA of €1.35 billion.
Mondi has a premium listing on the London Stock Exchange (MNDI), and a secondary listing on the JSE Limited (MNP). 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.
Sponsor in South Africa: UBS South Africa Proprietary Limited.
