Mondi

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Mondi plc
Company typePublic limited company
LSE: MNDI
JSE: MNP
FTSE 100 Component
Industry
  • Packaging
  • Paper
Founded1967; 57 years ago (1967)
Headquarters
Key people
  • Philip Yea (chair­person) Edit this on Wikidata
  • Andrew R. King (CEO) Edit this on Wikidata
Products
  • Pulp
  • Paper
  • Containerboard
  • Packaging
RevenueDecrease €7,330 million (2023)[2]
Decrease €790 million (2023)[2]
Decrease €(134) million (2023)[2]
Number of employees
22,000 (2024)[3]
Websitemondigroup.com

Mondi plc is a multinational packaging and paper group. Group offices are located in Weybridge, United Kingdom and Vienna, Austria. 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.[4]

In 2000 the company increased its holdings in Neusiedler AG and Frantschach AG, both Austrian businesses, to 100% and 70% respectively.[5] 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.[6]

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).[7]

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.[8]

In 2011 Mondi demerged Mondi Packaging South Africa (listed as Mpact on Johannesburg Stock Exchange).[9]

In 2012 Mondi acquired Nordenia to extend its consumer packaging business.[10]

In May 2017 Peter Oswald was appointed as new group chief executive officer. In the same year, the approval of the €335 million Štětí mill modernisation (Czech Republic) happened.[11]

In 2019 Mondi completed the simplification of its corporate structure from dual listed into a single holding company under Mondi plc.[11]

On 1 April 2020 Andrew King succeeded Peter Oswald as Mondi Group's chief executive officer.[12]

On 4 May 2022, Mondi announced plans to divest from its Russian assets.[13] However, in December 2022, The Times reported than the sale of its Russian assets was "still awaiting approval".[14] In February 2023 Mondi was added to the Ukraine International Sponsors of War list.[15] 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.[16] However, in September 2023, the sale was completed and Mondi confirmed that it no longer trades in Russia.[17]

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.[18]

In March 2024, the company made an agreed offer worth £5.1 billion to acquire DS Smith.[19]

References[edit]

  1. ^ "Corporate Contacts". Mondi Group. Retrieved 11 August 2020.
  2. ^ a b c "Preliminary Results 2023" (PDF). Mondi. Retrieved 23 February 2024.
  3. ^ "About us". Mondi Group. Retrieved 11 February 2024.
  4. ^ "60 yearsof service" (PDF). Tappsa Journal. Archived from the original (PDF) on 17 April 2016. Retrieved 25 March 2016.
  5. ^ "Frantschach Group fixes purchase of 25 factories from AssiDomän". APA. 15 May 2000. Retrieved 21 April 2022.
  6. ^ Anglo American to invest US $250 million in Russian paper mill Archived 15 March 2012 at the Wayback Machine PMD, 18 March 2002
  7. ^ "Frantschach wants to change the name of Mondi Packaging Paper Świecie". Money.pl. 25 April 2004. Retrieved 21 April 2022.
  8. ^ "Anglo American to list Mondi unit on July 3". Reuters. 1 June 2007. Retrieved 21 April 2022.
  9. ^ "Mpact starts slowly after Mondi demerger". IOL. 12 July 2011. Retrieved 21 April 2022.
  10. ^ "Mondi Buys Nordenia to Extend Consumer Packaging Business". Bloomberg. 11 July 2012. Retrieved 21 April 2022.
  11. ^ a b "Mondi appoints Peter Oswald as new chief". FT. 1 February 2017. Retrieved 1 March 2019.
  12. ^ "Andrew King to be appointed Mondi Group Chief Executive Officer". Pap News. 19 February 2020. Retrieved 11 August 2020.
  13. ^ "UK packaging firm Mondi to sell Russian assets". Reuters. 4 May 2022. Retrieved 6 May 2022.
  14. ^ "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.
  15. ^ "Ukraine: Govt. names 13 intl. companies sponsors of war due to their continued operations in Russia". 10 February 2023.
  16. ^ "Mondi withdraws from deal to sell Syktyvkar facility in Russia". Packaging Gateway. 6 June 2023. Retrieved 19 July 2023.
  17. ^ "Mondi completes exit from Russia as inks Syktyvkar sale". Morning Star. 4 October 2023. Retrieved 8 November 2023.
  18. ^ Singsit, Jangoulun (13 January 2023). "Mondi closes acquisition of Duino paper mill near Trieste, Italy". Packaging Gateway. Retrieved 13 January 2023.
  19. ^ "DS Smith shares lift after Mondi takeover deal agreed". The Herald. 8 March 2024. Retrieved 9 March 2024.

External links[edit]

Retrieved from "https://en.wikipedia.org/w/index.php?title=Mondi&oldid=1212821653"