Jan. 2, 2018 – Mondi Group has signed an agreement to acquire 100 per cent of the outstanding shares in Powerflute Group Holdings Oy – a division of Nordic Packaging and Container Holdings – for €365 million. Powerflute will be integrated into Mondi’s Packaging Paper Business Unit.
The transaction is expected to close in the first half of 2018.
Powerflute operates an integrated pulp and paper mill in Kuopio, Finland, with an annual production capacity of 285,000 tonnes of high-performance semi-chemical fluting. Powerflute’s semi-chemical fluting is sold to a diverse range of customers, primarily for packaging fresh fruit and vegetables, as well as other end-uses such as electronics, chemicals and pharmaceuticals. Around half of the company’s production is sold in Europe, while the remainder is exported globally.
“The acquisition of Powerflute supports our strategy of investing in high-quality packaging and paper assets. We are excited by this opportunity to expand our customer offering by further broadening our containerboard product range and geographic reach,” said Peter Oswald, chief executive of Mondi Group.
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