Mondi Agrees to Sell Belcoat Extrusion Coatings Plant in Belgium
Belcoat produces highly specialised extrusion coated products serving customers across protective clothing, imaging, automotive and other speciality products markets.
July 10, 2019 - Mondi Group has agreed to sell an extrusion coatings plant ('Belcoat') in Duffel, Belgium to Walki Group Oy. Financial terms of the deal were not disclosed. Belcoat produces highly specialised extrusion coated products serving customers across protective clothing, imaging, automotive and other speciality products markets. According to Walki, in 2018 Belcoat was generating a turnover of 37 million euros and employs over 100 people. “This acquisition is in line with our strategy to expand our customer base and to strengthen our position in highly specialized engineered materials,” stated Leif Frilund, President and CEO of Walki. Mondi noted that its remaining extrusion coatings plants in Europe are primarily focused on consumer and other selected applications. The transaction remains subject to competition clearance and other customary closing conditions and is expected to be completed in the second half of 2019. Walki Group is a leading manufacturer of technical laminates and protective packaging materials specialising in the production of fibre-based, intelligent multi-laminate products for markets as diverse as energy-saving facings and construction membranes to barrier packaging applications. The Group has production facilities in Finland, Germany, the Netherlands, Poland, the UK, Russia and China. To learn more please visit: www.walki.com. Mondi is a global leader in packaging and paper, offering innovative and sustainable packaging and paper solutions. Mondi is fully integrated across the packaging and paper value chain. To learn more please visit: www.mondigroup.com. SOURCE: Mondi and Walki |