Mondi
Template:Short description Template:EngvarB Template:Use dmy dates Script error: No such module "Infobox".Template:Template otherScript error: No such module "Check for conflicting parameters".Script error: No such module "Check for unknown parameters". 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
Mondi has its roots in South Africa where, in 1967, the company's former owner, Anglo American plc, built the Merebank Mill in Durban.[1]
In 2000, the company increased its holdings in Neusiedler AG and Frantschach AG, both Austrian businesses, to 100% and 70% respectively.[2] 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.[3]
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).[4]
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.[5]
In 2011, Mondi demerged Mondi Packaging South Africa (listed as Mpact on Johannesburg Stock Exchange).[6]
In 2012, Mondi acquired Nordenia to extend its consumer packaging business.[7]
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.[8]
In 2019, Mondi completed the simplification of its corporate structure from dual listed into a single holding company under Mondi plc.[8]
On 1 April 2020, Andrew King succeeded Peter Oswald as Mondi Group's chief executive officer.[9]
On 4 May 2022, Mondi announced plans to divest from its Russian assets.[10] However, in December 2022, The Times reported than the sale of its Russian assets was "still awaiting approval".[11] In February 2023 Mondi was added to Ukraine International Sponsors of War list.[12] 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.[13] However, in September 2023, the sale was completed and Mondi confirmed that it no longer trades in Russia.[14]
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.[15]
In March 2024, the company made an agreed offer worth £5.1 billion to acquire DS Smith.[16]
References
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- ↑ Anglo American to invest US $250 million in Russian paper mill Template:Webarchive PMD, 18 March 2002
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External links
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- 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
- Former dual-listed companies