PaperAge Magazine

Mondi Group Completes Its Acquisition of Powerflute

Powerflute - fluting

June 5, 2018 - Mondi on June 1 said that it completed the acquisition of 100% of the outstanding shares in Powerflute Group Holdings Oy, a division of Nordic Packaging and Container Holdings, for a total consideration of EUR 365 million on an enterprise value basis.

Mondi first announced the deal on Dec. 22, 2017.

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. The business will be integrated into Mondi's Packaging Paper business unit.

Commenting on the acquisition, Mondi Group CEO Peter Oswald said, “We are excited to have completed this acquisition, which supports our strategy of investing in high-quality packaging and paper assets, further broadens our containerboard product range, and extends our geographic reach.”

Mondi is an international packaging and paper group. The group operates as two divisions: Europe & International, and South Africa. To learn more please visit: www.mondigroup.com.

SOURCE: Mondi Group