Mondi extends geographical reach

Mondi expands its footprint into EgyptThe international packaging and paper group recently announced it signed an agreement to acquire 100 percent of the outstanding shares in National Company for Paper Products and Import & Export (NPP) in Egypt.

The purchase, subject to customary closing conditions, is on a debt and cash-free basis.

NPP is a privately owned industrial bags producer operating a plant in Giza near Cairo.  The chief executive of fibre packaging at the Mondi Group, Erik Bouts says the acquisition complements the group’s network of plants in the growing Middle East region. ‘It provides us with a leading position in Egypt,’ he comments.

Mondi operates four plants in the region. It is also a global player in packaging and paper and is listed on the JSE and London Stock Exchange with a market capitalisation of more than R168 billion. In 2017, the group reported revenues of R7.1 billion and a return on capital employed of 19.7 percent.

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