Mondi completes acquisition of Turkish corrugated packaging company Olmuksan

TURKEY – Mondi, a leading British multinational packaging and paper group, has completed the acquisition of a 90.38% stake in Olmuksan International Paper from International Paper. The acquisition culminates a process which started earlier this year when International Paper announced that it had reached an agreement to sell its 90.38% interest in its corrugated packaging business in Turkey to Mondi, for approximately €66 million. The Olmuksan business includes five corrugated packaging plants, which supply a diverse customer base with packaging for food, beverage, agriculture and industrial applications. For the 12…

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Mondi acquires Olmuksan to bolster position in growing Turkish corrugated packaging maker

TURKEY – British multinational packaging and paper group Mondi has agreed to acquire 90.38% of the outstanding shares in Olmuksan International Paper Ambalaj Sanayi ve Ticaret A.Ş from International Paper for a total consideration of €66 million (about US$81.46 million). The sale is the culmination of plans by Tennessee based International paper (IP) to reorganize its business interests in Turkey. The company had issued a notice in October 2020 indicating it was exploring the sale of its stake in Olmuksan. That notice stated IP was evaluating “various alternatives for the…

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Packaging company Mondi launches its new US$7m paper sack converting machine

HUNGARY – Mondi, a leading global packaging and paper group, has successfully completed the implementation of a new state-of-the-art paper sack converting machine at its Nyíregyháza site in Hungary costing them US$7.84 million. The machine allows the plant to produce a new line of sophisticated paper sacks for food packaging. The site will be capable of producing more than 130 million sacks annually. “Our goal is to serve our customers’ needs with excellence, so we focused on increasing the plant’s quality and hygiene standard to be able to produce high-end…

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Mondi announces departure of group’s chief executive officer Peter Oswald

AUSTRIA – Mondi Plc has announced that its Chief Executive Officer Peter Oswald, will step down from the position and the board of packaging and paper group and leave the company on 31st March 2020. The company has appointed Andrew King, the Group’s Chief Financial Officer to take on the role of Interim CEO after Peter steps down and until a successor is appointed. Commenting on the leadership Peter’s departure David Williams, Chair of Mondi plc, said: “Peter has made an immense contribution to the growth and development of Mondi…

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Unilever partners with Mondi on recyclable packaging solution

TURKEY – Unilever has joined forces with global packaging and paper firm, Mondi to support the consumer goods company’s ambitious circular economy goals. As part of the partnership, Mondi has developed a recyclable polypropylene (PP) mono-material solution in Turkey for Unilever’s Knorr dry soup powder range, produced at Mondi’s Turkish flexible packaging plant in Kalenobel. The new package will replace a multi material laminate, with a recyclable mono-material film alternative. Mondi claims that the new packaging preserves the shelf-life of the food product and does not impact the runability on…

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Mondi launches fully recyclable packaging film for thermoforming applications

EUROPE – Mondi Group, Austria-based packaging and paper company has developed a fully-recyclable polypropylene construction for thermoforming applications. The recyclable polypropylene film can be used in thermoforming of flexible films for modified atmosphere packaging (MAP) and vacuum packaging, with the ability to extend the shelf life of products such as meat and cheese. According to Mondi, the packaging innovation offers a 23% reduction in carbon footprint compared to existing packaging, bringing brand owners next to their sustainable and climate goals. The new, coextruded material includes a top and bottom web,…

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Packaging group Mondi to dump dual listing for a primary one in London

SOUTH AFRICA – The international packaging and paper group Mondi has announced that it plans to dump its dual listing structure for a primary listing in London, reports IOL Business. The company which operates in the consumer packaging business said it would move its primary stock to London but would retain a secondary listing on the JSE as part of a move to simplify its business. According to Mondi, the move was part of a process to simplify its cash and dividend flows that it has had since it was…

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Packaging and paper group Mondi to shut down Durban facility

SOUTH AFRICA – The international packaging and paper group Mondi Plc is planning to stop operations at its Merebank, Durban processing facility blamed on declining margins and high input costs for hardwood pulp, Business Day has reported. The Durban facility, located in eastern South Africa’s KwaZulu-Natal province hosts one of its uncoated fine paper machines with a 70,000t per annum production capacity. Mondi CEO Peter Oswald revealed this in the second half of its financial year results, saying that as a result of low margins and high costs, the company…

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Mondi develops fully recyclable packaging material, BarrierPack Recyclable

AUSTRIA – Mondi plc, manufacturer of paper and packaging products has unveiled a fully-recyclable packaging material, BarrierPack Recyclable, a plastic laminate that could be used as a recyclable alternative for domestic and industrial applications. The new laminates are made for pre-made pouches and FFS roll stock to that enhances both efficiency and meet product barrier properties. BarrierPack recyclable is friendly to the environment and has been validated for existing industrial recycling streams, according to the company. Mondi is strongly committed to innovation by investing in tailor-made flexible packaging solutions in…

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