Pulp Paper & Logistics
INDUSTRY NEWS 5
Mondi to acquire Turkish corrugated manufacturer Olmuksan
UK-based packaging and paper group Mondi is to acquire a controlling stake in Turkish corrugated packaging manufacturer Olmuksan from International Paper. The 90.38 per cent share being acquired for €66 million values the paper maker – full name Olmuksan International Paper Ambalaj Sanayi ve Ticaret AŞ – at about €88 million. Istanbul Stock Exchange-
listed Olmuksan has a network of five plants that supply a wide customer base with packaging for food, beverage, agriculture and industrial applications. For the year ended last September Olmuksan produced 256,000 tonnes of corrugated packaging and sales of TRY1.09 billion (€150 million). “We are excited by this unique opportunity to significantly strengthen our position in the fast-growing Turkish corrugated market and expand our offering to existing and new customers in the region,” said Mondi’s chief executive Andrew King. Mondi has operated in
Turkey for many years and has developed a strong understanding of the market and its long-term opportunities. Its current Turkish footprint includes four corrugated
Mondi chief executive Andrew King: “unique opportunity to significantly strengthen our position”
packaging plants and a recycled containerboard paper mill, as well as three flexible packaging sites. In a statement, Mondi said:
“Leveraging our expertise and experience in this market, together with our global virgin and recycled containerboard portfolio, we expect to generate significant operational improvements and paper integration upside.” The deal remains subject to
competition clearance and is expected to complete in the first half of 2021. Following the completion of the transaction, Mondi will launch a mandatory tender offer to acquire the remaining 9.62 per cent of outstanding shares held by minority shareholders.
BUILDING TOMORROW’S BIOECONOMY
Welcome to the leading virtual event for the pulp and paper industry
The new Virtual pre-PulPaper 2021 event will be organized on 29 April 2021. PulPaper is the forum for the latest technology and offers optimal business and networking opportunities. It enables companies to meet with potential clients, and visitors to follow interesting program.
For more information and contact details:
pulpaper.fi #PulPaper2021
Virtual exhibition • State of the art program • Registration free of charge
PULPAPER IS ORGANISED DURING THE SAME WEEK AS the leading Nordic chemistry and biotechnology event ChemBio Finland and the international chemistry conference Helsinki Chemicals Forum.
Organized by:
VIRTUAL PRE-PULPAPER
29 April 2021
January/February 2021
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36
