Search Jobs

Job of the day

On-Site POS Account Manager: C. London

Exceptional package available

Central London

Jobs of the week

Business Directory

Poll

In this issue

Converting

Mondi bolsters share of corrugated and flexibles markets with two acquisitions

Simeon Goldstein, packagingnews.co.uk, 06 July 2007

Mondi Group has ended its first week of trading on the Stock Exchange with two acquisitions to strengthen its presence in the corrugated and flexible packaging markets.

The packaging and paper group is investing £53m ($106m) for a 53% stake in Turkish firm Tire Kutsan, which has a strong position in its domestic corrugated packaging market.

It is also paying £50m (€74m) to buy Austrian flexible packaging manufacturer Unterland, which produces PE and CPP films.

Mondi expects the deals to be completed by the end of the second quarter 2007.

Earlier this week, Mondi completed its demerger from parent group Anglo-American.