| Tue 18 Sep 2007, 14:33 | | MND/MNP - Mondi Signs Contract For New Lightweight |
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MND MNP
MND MNP
MND/MNP - Mondi Signs Contract For New Lightweight Recycled Containerboard
Machine
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 signs contract for new lightweight recycled containerboard machine
As part of the dual listed company structure, Mondi Limited and Mondi plc
(together "Mondi Group") notify both the JSE Limited and the London Stock
Exchange of matters required to be disclosed under the JSE listing
requirements and/or the Disclosure and Listing Rules of the United Kingdom
Listing Authority.
Mondi Group (`Mondi`) is pleased to announce that it has signed the delivery
contract with Metso for a new lightweight recycled containerboard machine with
a production capacity of up to 470,000 tonnes a year.
The signing of the contract is the latest stage in the project announced
earlier in 2007 to invest in a new lightweight recycled containerboard machine
in Emerging Europe.
Subject to agreement on the level of available governmental support, the
machine is expected to be sited either at the Swiecie mill in Poland or at the
Steti mill in the Czech Republic. If it is decided to locate the machine at
Swiecie, it is planned that it will be owned and operated by Mondi Packaging
Paper Swiecie S.A., a 66 per cent held subsidiary.
The project will also include a new corrugated box plant with a capacity of up
to 250 million m2 per annum board production. The total investment is
estimated at Euro 350m and the project is due for completion in June 2009.
The new machine is expected to be the clear cost leader in Europe, combining
the benefits of the low operating cost environment in Emerging Europe with the
synergy benefits that come from utilising the infrastructure of an existing
mill and supporting sales and distribution structures. Furthermore, it will
offer exposure to the high growth lightweight containerboard segment,
supported by the fast growing manufacturing sector in Emerging Europe.
18 September 2007
JSE Sponsor: UBS
For more information contact:
Mondi Packaging
Wolfgang Brunner
Phone: +43 1 795 29 4983
Mondi plc
Lisa Attenborough
Phone: +44 1932 826300
About Mondi Packaging
Mondi Packaging, a member of the Mondi group, is a global paper and plastic
packaging group. The company is active in the corrugated, bag and flexibles
businesses and is a packaging specialist for containerboard, corrugated
packaging solutions, kraft paper, industrial bags, extrusion coating, release
liners and consumer flexibles solutions.
Mondi Packaging has more than 90 production facilities in over 30 countries.
Its 16,000 employees are dedicated to developing customized packaging
solutions for optimum protection and promotion of its customers` products.
About Mondi
Mondi is an integrated paper and packaging group founded in South Africa in
1967. In 2006 it had revenues of Euro 5.751 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: 18/09/2007 14:33:40 Produced by the JSE SENS Department.
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