Mondi to acquire Duino mill

Mondi plc (‘Mondi’) has agreed to acquire the Duino mill near Trieste (Italy) from the Burgo Group for a total consideration of €40 million. The mill currently operates one paper machine producing lightweight coated mechanical paper. Mondi plans to convert this paper machine to produce around 420,000 tonnes per annum of high-quality recycled containerboard for an estimated investment of around €200 million.

Close to two important export harbours, Duino is ideally located to supply the Group’s
Corrugated Solutions plants in Central Europe and Turkey as well as to serve the growing local Italian market. The containerboard machine will strengthen backward integration in Corrugated Packaging and provide us with security of supply to better serve our customers.

Commenting on the acquisition, Andrew King, Group CEO of Mondi, said: “We are excited by this opportunity to invest in the growth of our packaging business, build on our integrated platform and broaden our geographic reach.”

The acquisition is subject to competition clearance and other closing conditions and
completion is expected in the second half of the year.

Enquiries

Investors/analysts:
Clara Valera
+44 193 282 6357
Mondi Group Head of Strategy and Investor Relations

Media:
Kerry Cooper
+44 788 145 5806
Group Communication Director

Richard Mountain (FTI Consulting)
+44 790 968 4466

Mondi plc

(Incorporated in England and Wales)
(Registered number: 6209386)
LEI: 213800LOZA69QFDC9N34
LSE share code: MNDI
ISIN: GB00B1CRLC47
JSE share code: MNP

“The investments in state-of-the-art machinery for our Mondi Olmuksan plants expand our offering to customers in the region in line with our ambition to become a leading player in the structurally attractive Turkish market. Thanks to our overall expansion and modernisation plans, we will continue to be a reliable partner meeting online retailers’ increasing demand for eCommerce packaging designed for a circular economy. The latest market research on eCommerce shopping and packaging trends in Germany and Poland, commissioned by Mondi, shows that consumers of all ages continue to buy online and prefer eCommerce packaging that is sustainable,” says Armand Schoonbrood, COO Corrugated Solutions at Mondi.

About Mondi

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 2021, Mondi had revenues of €7.0 billion and underlying EBITDA of €1.2 billion from
continuing operations, and employed 21,000 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).
mondigroup.com

Sponsor in South Africa: Merrill Lynch South Africa Proprietary Limited t/a BofA Securities.

Mondi has a premium listing on the London Stock Exchange (MNDI), and a secondary listing on the JSE Limited (MNP). Mondi is a FTSE 100 constituent, and has been included in the FTSE4Good Index Series since 2008 and the FTSE/JSE Responsible Investment Index Series since 2007.