May 24, 2010 - The Mondi Group has decided that its South Africa Division will withdraw from the European uncoated fine paper market, according EUWID news.

In the company's Interim Management Statement, Mondi said that the South African uncoated fine paper market has been stable, but export returns from the uncoated fine paper operations continue to disappoint. Therefore, Mondi South Africa will focus on servicing the domestic and African market.

As a result, PM 33, a 120,000 tpy paper machine and related converting capacity at the Merebank mill will be shut down.

SOURCE: EUWID