| Wed 5 Sep 2007, 9:16 | | MND/MNP - Mondi Limited/Mondi plc - Completes its |
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MND MNP
MND MNP
MND/MNP - Mondi Limited/Mondi plc - Completes its acquisition of its majority
stake in Tire Kutsan and 100% of Unterland Flexible Packaging
Mondi Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1967/013038/06)
JSE share code: MND ISIN: ZAE000097051
Mondi plc
(Incorporated in England and Wales)
(Registration number: 6209386)
JSE share code: MNP ISIN: GB00B1CRLC47
Mondi completes its acquisition of its majority stake in Tire Kutsan and 100% of
Unterland Flexible Packaging
London, 4 September 2007
Mondi Group (`Mondi`) is pleased to announce that it has completed the
transactions to acquire a majority interest in Tire Kutsan, a Turkish corrugated
packaging and containerboard business, and 100% of Unterland Flexible Packaging,
a consumer flexibles business based in Austria. These two acquisitions were
originally announced on 6 July 2007.
In compliance with Turkish legal requirements, Mondi will now apply to the
Capital Markets Board in Turkey to make a mandatory tender offer for the
remaining shares in Tire Kutsan on the Istanbul Stock Exchange.
-Ends-
For further information, please contact:
Mondi Group
Paul Hollingworth
Phone: +44 (1932) 826 326
Financial Dynamics
Richard Mountain
Phone: +44 (0) 20 7269 7186
Notes to Editors:
About Tire Kutsan
Founded in 1972, Tire Kutsan, which is based in the district of Tire, Izmir, in
Turkey, is an integrated manufacturer of containerboard and corrugated box
products. It had revenues of approximately US$154 million in 2006, which
excludes the full impact of recent acquisitions and a greenfield expansion
(completed in late 2006/early 2007). It has a leading position in the Turkish
market for containerboard and corrugated boxes, with 8 production locations and
approximately 1,100 employees.
About Unterland
Founded in 1959, Unterland operates a large single production facility for the
manufacture of high quality polyethylene and polypropylene films near Kufstein
in Austria. Unterland has approximately 400 employees and had revenues of
approximately Euro129 million in 2006.
About Mondi
Mondi is an integrated paper and packaging group founded in South Africa in
1967. In 2006 it had revenues of Euro5.751 billion. Its key operations and
interests are in Western Europe, Emerging Europe and South Africa. Mondi is
principally involved in the manufacture of packaging paper, converted packaging
products (including corrugated packaging, bags and flexible packaging) and
office paper.
Mondi is integrated across the paper and packaging production process from the
growing of wood for pulp production and the manufacture of pulp and paper to the
conversion of packaging papers into corrugated packaging and industrial bags. It
also has a growing flexibles business focused on the production of release
liner, extrusion coating and consumer flexibles products.
Mondi has production operations in 112 locations across 34 countries and
averaged approximately 34,000 employees in 2006.
Date: 05/09/2007 08:00:02 Produced by the JSE SENS Department.
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