Mondi Plc - Mondi completes acquisition of Hinton Pulp mill
PR Newswire
LONDON, United Kingdom, February 05
Mondi plc
(Incorporated in England and Wales)
(Registered number: 6209386)
LEI: 213800LOZA69QFDC9N34
LSE share code: MNDI
JSE share code: MNP ISIN: GB00BMWC6P49
5 February 2024
Mondi completes acquisition of Hinton Pulp mill
Mondi plc (Mondi), a global leader in the production of sustainable packaging and paper, has completed the acquisition of Hinton Pulp mill in Alberta, Canada, from West Fraser Timber Co. Ltd (West Fraser) for a total consideration of USD 5 million.
The mill has the capacity to produce around 250,000 tonnes of pulp per annum and will provide the Group with access to local, high-quality fibre from a well-established wood basket as part of a long-term partnership with West Fraser.
Mondi intends to invest in the mill to improve productivity and sustainability performance and, subject to pre-engineering and permitting, invest in expanding the facility primarily with a new kraft paper machine which will integrate its paper bag operations in the Americas and support future growth.
Commenting on the acquisition, Andrew King, Mondi Group CEO, said:
"We are delighted to welcome our new colleagues from Hinton Pulp mill to Mondi and look forward to working together to secure the mill's future and support Mondi's growth in North America with our portfolio of sustainable packaging."
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Enquiries
Investors/analysts:
Fiona Lawrence +44 742 587 8683
Mondi Group Head of Investor Relations
Media:
Chris Gurney +44 799 004 3764
Mondi Group Head of Corporate Communication
Richard Mountain
FTI Consulting +44 790 968 4466
Editor's notes
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 2022, Mondi had revenues of €8.9 billion and underlying EBITDA of €1.8 billion from continuing operations, and employed 22,000 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).
Sponsor in South Africa: Merrill Lynch South Africa Proprietary Limited t/a BofA Securities.
