| Mon 22 Sep 2008, 14:09 | | MND/MNP - Mondi Limited/Mondi Plc - Holcombe recycled containerboard mill |
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MND MNP
MND MNP
MND/MNP - Mondi Limited/Mondi Plc - Holcombe recycled containerboard mill
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
LSE share code: MNDI
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 listings requirements
and/or the Disclosure and Transparency and Listing Rules of the United Kingdom
Listing Authority.
22 September 2008
HOLCOMBE RECYCLED CONTAINERBOARD MILL
Mondi has today announced that is has entered into consultations with the
workforce of its Holcombe Mill regarding the likely closure.
Holcombe is a 105,000 tonne recycled containerboard mill located in the UK and
employs approximately 90 people. The book value of the fixed assets (including
land and buildings) was Euro1.5m as at 30/06/08 and total closure and other
costs (including write-down of fixed assets) is likely to be circa Euro5m pre
tax.
The likely closure of Holcombe reflects its high cost position, in particular
rising energy costs, against a backdrop of declining demand as the economy
continues to slow, all of which has seen the mill move into an operating loss
position.
Editors` notes:
Mondi is an international paper and packaging group and in 2007 had revenues of
Euro6.3 billion. Its key operations and interests are in western Europe,
emerging Europe, Russia and South Africa.
The Group is principally involved in the manufacture of packaging paper and
converted packaging products; uncoated fine paper; and speciality products and
processes, including coating, release liner and consumer flexibles.
Mondi is fully integrated across the paper and packaging process, from the
growing of wood and manufacture of pulp and paper (including recycled paper) to
the converting of packaging papers into corrugated packaging and industrial
bags.
Mondi has production operations across 35 countries and had an average of 35,000
employees in 2007.
Contact details:
Mondi Group
Paul Hollingworth + 44 (0) 1932 826 326
Lisa Attenborough + 44 (0) 7872 672669
Date: 22/09/2008 14:01:01 Produced by the JSE SENS Department.
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