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Mondi postpones paper machine investment at Steti mill


September 14, 2017
By P&PC Staff

Sep. 14, 2017 – Mondi has decided to postpone its €135-million investment (roughly C$196 million) in a new machine glazed speciality kraft paper machine at its Steti mill in the Czech Republic after a “careful review of market conditions.”

“While the proposed new machine remains an exciting investment opportunity, offering the lowest cost production of its sort in Europe, recently announced industry capacity expansions are expected to result in a market imbalance over the period in which the new machine was planned to come on line,” said Peter Oswald, Mondi CEO. “There is no change to our €335-million investment in modernizing the mill including rebuilding the fibre lines, de-bottlenecking the existing packaging paper machines and a new recovery boiler, which is progressing as planned.”

Mondi is an international packaging and paper group, employing around 25,000 people across more than 30 countries.