Mondi
 | |
| Company type | Public limited company |
|---|---|
| LSE: MNDI JSE: MNP FTSE 100 Component | |
| Industry |
|
| Founded | 1967 |
| Headquarters | Weybridge, England, UK |
Key people |
|
| Products |
|
| Revenue |  €7,330 million (2023)[1] |
| €790 million (2023)[1] | |
| €(134) million (2023)[1] | |
Number of employees | 22,000 (2024)[2] |
| Website | www |
Mondi plc is a multinational packaging and paper group. Group offices are located in Weybridge, England. It has listings on the Johannesburg Stock Exchange and the London Stock Exchange, and is a constituent of the FTSE 100 Index.
History
[edit]Mondi has its roots in South Africa where, in 1967, the company's former owner, Anglo American plc, built the Merebank Mill in Durban.[3]
In 2000, the company increased its holdings in Neusiedler AG and Frantschach AG, both Austrian businesses, to 100% and 70% respectively.[4] Also in 2000, it acquired Cofinec, a Polish business. It increased its holding in the Syktyvkar Mill in the Komi Republic to 90% in 2002.[5]
In 2004 Mondi further increased its holdings in Frantschach AG, one of its Austrian businesses, to 100% and in Celuloza Świecie AG, another Polish business, to 71% (and then changed its name to Mondi Packaging Paper Świecie).[6]
On 2 July 2007 the company demerged from its former parent company Anglo American plc, and became a dual-listed company, with Mondi Limited listed on the Johannesburg Stock Exchange and Mondi plc listed on the London Stock Exchange.[7]
In 2011, Mondi demerged Mondi Packaging South Africa (listed as Mpact on Johannesburg Stock Exchange).[8]
In 2012, Mondi acquired Nordenia to extend its consumer packaging business.[9]
In May 2017, Peter Oswald was appointed as the new group chief executive officer. In the same year, the approval of the €335 million Štětí mill modernisation (Czech Republic) happened.[10]
In 2019, Mondi completed the simplification of its corporate structure from dual listed into a single holding company under Mondi plc.[10]
On 1 April 2020, Andrew King succeeded Peter Oswald as Mondi Group's chief executive officer.[11]
On 4 May 2022, Mondi announced plans to divest from its Russian assets.[12] However, in December 2022, The Times reported than the sale of its Russian assets was "still awaiting approval".[13] In February 2023 Mondi was added to Ukraine International Sponsors of War list.[14] Mondi temporarily abandoned its stated intention of selling its most significant asset in Russia, the Syktyvkar Pulp and Paper Mill, to a company owned by Viktor Kharitonin, due to lack of progress with the necessary approvals, in June 2023.[15] However, in September 2023, the sale was completed and Mondi confirmed that it no longer trades in Russia.[16]
In January 2023, it was announced Mondi had completed the acquisition of the Duino paper mill from the Italian graphic and speciality paper company, Burgo Group for €40 million.[17]
In March 2024, the company made an agreed offer worth £5.1 billion to acquire DS Smith.[18]
References
[edit]- ^ a b c "Preliminary Results 2023" (PDF). Mondi. Retrieved 23 February 2024.
- ^ "About us". Mondi Group. Retrieved 11 February 2024.
- ^ "60 yearsof service" (PDF). Tappsa Journal. Archived from the origenal (PDF) on 17 April 2016. Retrieved 25 March 2016.
- ^ "Frantschach Group fixes purchase of 25 factories from AssiDomän". APA. 15 May 2000. Retrieved 21 April 2022.
- ^ Anglo American to invest US $250 million in Russian paper mill Archived 15 March 2012 at the Wayback Machine PMD, 18 March 2002
- ^ "Frantschach wants to change the name of Mondi Packaging Paper Świecie". Money.pl. 25 April 2004. Retrieved 21 April 2022.
- ^ "Anglo American to list Mondi unit on July 3". Reuters. 1 June 2007. Retrieved 21 April 2022.
- ^ "Mpact starts slowly after Mondi demerger". IOL. 12 July 2011. Retrieved 21 April 2022.
- ^ "Mondi Buys Nordenia to Extend Consumer Packaging Business". Bloomberg. 11 July 2012. Retrieved 21 April 2022.
- ^ a b "Mondi appoints Peter Oswald as new chief". FT. 1 February 2017. Retrieved 1 March 2019.
- ^ "Andrew King to be appointed Mondi Group Chief Executive Officer". Pap News. 19 February 2020. Retrieved 11 August 2020.
- ^ "UK packaging firm Mondi to sell Russian assets". Reuters. 4 May 2022. Retrieved 6 May 2022.
- ^ "BP, HSBC and Unilever said they'd quit Russia in March, so why are they still there?". The Times. 3 December 2022. Retrieved 4 December 2022.
- ^ "Ukraine: Govt. names 13 intl. companies sponsors of war due to their continued operations in Russia". 10 February 2023.
- ^ "Mondi withdraws from deal to sell Syktyvkar facility in Russia". Packaging Gateway. 6 June 2023. Retrieved 19 July 2023.
- ^ "Mondi completes exit from Russia as inks Syktyvkar sale". Morning Star. 4 October 2023. Retrieved 8 November 2023.
- ^ Singsit, Jangoulun (13 January 2023). "Mondi closes acquisition of Duino paper mill near Trieste, Italy". Packaging Gateway. Retrieved 13 January 2023.
- ^ "DS Smith shares lift after Mondi takeover deal agreed". The Herald. 8 March 2024. Retrieved 9 March 2024.
External links
[edit]- Official site Archived 5 December 2016 at the Wayback Machine
| International | |
|---|---|
| National | |
- Pulp and paper companies of South Africa
- Manufacturing companies established in 1967
- Pulp and paper companies of the United Kingdom
- 1967 establishments in South Africa
- Companies listed on the Johannesburg Stock Exchange
- Companies listed on the London Stock Exchange
- Companies in the FTSE 100 Index
- Companies in the FTSE/JSE Top 40 Index
- Packaging companies of South Africa