MONDI PLC - Further re Disposal
PR Newswire
London, June 30
Mondi plc
(Incorporated in England and Wales)
(Registered number: 6209386)
LEI: 213800LOZA69QFDC9N34
LSE share code: MNDI ISIN: GB00B1CRLC47
JSE share code: MNP
1 July 2022
Sale of Personal Care Components business completed
Mondi plc ('Mondi') is pleased to announce that it has completed the sale of its Personal Care Components business ('PCC'), part of the Engineered Materials business unit, to Nitto Denko Corporation ('Nitto') for an enterprise value of €615 million.
Commenting on the transaction, Andrew King, Group CEO of Mondi, said:
"We are pleased to have completed the sale of PCC to Nitto ahead of schedule. This enables us to simplify our portfolio and focus on our strategic priority to grow in sustainable packaging.
I'd like to say a heartfelt thank you to all our colleagues at PCC for their valuable contribution over the years and we wish them much success at Nitto."
The remaining portion of Engineered Materials, Functional Paper and Films, will become part of Flexible Packaging and reported within this segment. This strengthens integration along the kraft paper value chain, enabling us to develop more innovative functional papers with barrier properties, fulfilling our customers' needs for sustainable packaging.
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 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 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 2021, Mondi had revenues of €7.7 billion and underlying EBITDA of €1.5 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: Merrill Lynch South Africa Proprietary Limited t/a BofA Securities.
