Mondi

Mondi plc is a multinational packaging and paper group. The company is based in Weybridge, England. It has listings on the Johannesburg Stock Exchange and the London Stock Exchange as a constituent of the FTSE 100 Index.

History

Mondi has its roots in South Africa where, in 1967, the company's former owner, Anglo American plc, built the Merebank Mill in Durban.[3]

In 2000, the company increased its holdings in Neusiedler AG and Frantschach AG, both Austrian businesses, to 100 per cent and 70 per cent respectively.[4] Also in 2000, it acquired Cofinec, a Polish business. It increased its holding in the Syktyvkar Mill in the Komi Republic to 90% in 2002.[5]

In 2004 Mondi further increased its holdings in Frantschach AG, one of its Austrian businesses, to 100 per cent and in Celuloza Świecie AG, another Polish business, to 71% (and then changed its name to Mondi Packaging Paper Świecie).[6]

On 2 July 2007 the company demerged from its former parent company Anglo American plc, and became a dual-listed company, with Mondi Limited listed on the Johannesburg Stock Exchange and Mondi plc listed on the London Stock Exchange.[7]

In 2011, Mondi demerged Mondi Packaging South Africa (listed as Mpact on Johannesburg Stock Exchange).[8]

In 2012, Mondi acquired Nordenia to extend its consumer packaging business.[9]

In May 2017, Peter Oswald was appointed as the new group chief executive. In the same year, the approval of the €335 million Štětí mill modernisation (Czech Republic) happened.[10]

In 2019, Mondi completed the simplification of its corporate structure from dual listed into a single holding company under Mondi plc.[10]

On 1 April 2020, Andrew King succeeded Peter Oswald as Mondi Group's chief executive.[11]

On 4 May 2022, Mondi announced plans to divest from its Russian assets.[12] However, in December 2022, The Times reported than the sale of its Russian assets was "still awaiting approval".[13] In February 2023 Mondi was added to Ukraine International Sponsors of War list.[14] Mondi temporarily abandoned its stated intention of selling its most significant asset in Russia, the Syktyvkar Pulp and Paper Mill, to a company owned by Viktor Kharitonin, due to lack of progress with the necessary approvals, in June 2023.[15] However, in September 2023, the sale was completed and Mondi confirmed that it no longer trades in Russia.[16]

In January 2023, it was announced Mondi had completed the acquisition of the Duino paper mill from the Italian graphic and speciality paper company, Burgo Group for €40 million.[17]

In March 2024, the company made an agreed offer worth £5.1 billion to acquire DS Smith.[18] Mondi pulled out of the deal following a counteroffer from International Paper.[19]

External links

• Official site