Mondi signs agreement to sell its Pine Bluff flat sack kraft paper mill in North America
Vienna, 4 April 2018 – Mondi Group has signed an agreement for the sale of its flat sack kraft paper mill in Pine Bluff, Arkansas, USA, to Twin Rivers Paper Company LLC.
The transaction remains subject to customary closing conditions and is expected to complete in first half of 2018. The mill has a capacity of 130,000 metric tonnes.
Clemens Willee, CEO Packaging Paper, Mondi Group, comments: “We believe that the interests of the mill and its employees are better served by the new owners where there is a closer long-term strategic alignment.”
“We are very pleased with the opportunity to add this facility and its valued associates to the Twin Rivers family”, said Ken Winterhalter, President of Twin Rivers. “The proposed transaction will provide a logical grade-line extension to our current offerings and clear evidence of our ongoing commitment to enhance the value we provide to our customers.”
Mondi continues to focus on strengthening its leading industrial bags position in North America.
B.Riley FBR acted as advisor to Mondi on the sale.
Contact
Kerry Cooper, Mondi Group
Tel: +44 1932 82 6323
Email: kerry.cooper@mondigroup.com
About Mondi
Mondi is a global leader in packaging and paper, employing around 26,000 people in over 30 countries. We are fully integrated across the packaging and paper value chain - from managing forests and producing pulp, paper and plastic films, to developing and manufacturing effective industrial and consumer packaging solutions. Sustainability is embedded in everything we do, with clearly defined commitments across 10 action areas. We delight our customers with our innovative and sustainable packaging and paper solutions. Our major operations are in central Europe, Russia, North America and South Africa. In 2017, Mondi had revenues of €7.1 billion and a return on capital employed of 19.7%.
Mondi has a dual listed company structure, with a primary listing on the JSE Limited for Mondi Limited under the ticker MND and a premium listing on the London Stock Exchange for Mondi plc, under the ticker MNDI. We are a FTSE 100 constituent, and have been included in the FTSE4Good Index Series since 2008 and the JSE's Socially Responsible Investment (SRI) Index since 2007.
About Twin Rivers Paper Company
Twin Rivers Paper Company, headquartered in Madawaska, Maine, is an integrated specialty paper company that produces specialty packaging, label, publishing, and technical specialty papers as well as dimensional lumber. Targeting its manufacturing capabilities to specific market segments, Twin Rivers creates competitive advantages through nimble innovation and product development, service excellence and an unfailing commitment to quality. The company's brands include Acadia(r) packaging products, Alliance(r) label products, and Pharmopaque(r) pharmaceutical papers. Twin Rivers is owned jointly by Atlas Holdings LLC and Blue Wolf Capital. For more information, visit www.twinriverspaper.com.