| Wed 17 Dec 2003, 9:44 | | Anglo American acquires Mexican sack producer from |
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Anglo American acquires Mexican sack producer from Copamex Group
Anglo American plc
(Incorporated in the United Kingdom)
Registration number: 3564138
Share code: AGL
ISIN: GB0004901517
("Anglo American")
Anglo American acquires Mexican sack producer from Copamex Group
Anglo American plc ("Anglo American") announces that Frantschach, its 70% owned
Austrian subsidiary, has signed an agreement for the acquisition of the sack
business of Mexican paper and packaging group Copamex, for a total cash
consideration of $52 million.
Frantschach, part of Anglo American"s paper and packaging division which
operates under the Mondi name, is the largest supplier of industrial sacks and
kraft paper worldwide and a leading supplier in flexible packaging and coating
with sales of about (Euro) Euro1.9 billion.
The sack division of Copamex is the largest industrial sack producer in Mexico
and the seventh largest sack producer worldwide. In 2002, the business produced
470 million paper sacks and generated sales of $94 million. The business, with
its headquarters in Monterrey, consists of 4 production sites in Monterrey,
Chihuahua, Puebla and Guadalajara.
With this acquisition, Frantschach will become one of the leading North American
industrial sack suppliers. Frantschach intends to combine this business with its
sack plant near Chicago, in the USA, and focus on expanding its position in the
North American market.
In support of the transaction, the parties have concluded a long-term supply
agreement for the supply of sack paper from Copamex to the Mexican sack plants
of Frantschach.
The transaction is subject to relevant regulatory approvals. Closing is expected
in February 2004.
For further information:
Anglo American - London
Investor Relations Media Relations
Nick von Schirnding Kate Aindow
Tel: +44 207 698 8540 Tel: +44 207 698 8619
Anglo American - Johannesburg
Investor Relations Media Relations
Anne Dunn Marion Dixon
Tel: +27 11 638 4730 Tel: +27 11 638 3001
Notes to Editors:
Anglo Paper and Packaging, a division of Anglo American plc, operating under the
Mondi name, is an integrated paper and packaging group with operations and
interests in Europe South Africa, Asia and the Americas. The operations
manufacture pulp, graphic papers, packaging papers, board and converted
packaging, as well as solid wood products. Anglo Paper and Packaging contributed
21% to Anglo American"s headline earnings for the six-month period to 30 June
2003, making it the second largest contributor to the Anglo group. Headline
earnings rose by 16% from $153 million to $178 million. Anglo Paper and
Packaging"s operating profit was $357 million, 23% higher than for the first six
months of 2002, with Mondi South Africa contributing $97 million and Mondi
Europe $260 million.
Anglo American plc is one of the world"s largest mining and natural resource
groups. With its subsidiaries, joint ventures and associates, it is a global
leader in gold, platinum group metals and diamonds, with significant interests
in coal, base and ferrous metals, industrial minerals and paper and packaging.
The group is geographically diverse, with operations and developments in Africa,
Europe, South and North America and Australia.
(www.angloamerican.co.uk).
Johannesburg
Wednesday, 17 December 2003
Sponsor
Cazenove South Africa (Pty) Ltd
Date: 17/12/2003 09:22:04 AM Produced by the JSE SENS Department
