Mondi to buy Turkish flexible packaging firm for 90 Euro million
Mondi (Johannesburg, South Africa) has announced a €90 million acquisition of Turkish flexible packaging firm Kalenobel (Istanbul, Turkey) as the South African manufacturer expands its international packaging business. The paper and packaging group will purchase 90% of the outstanding share capital in from private equity group Argus Capital, and Olcay Hephiz, one of the company’s founders.
The transaction remains subject to competition clearance and other customary closing conditions and is expected to be finalized during the second half of the year.
Release Date: 06/07/2016
About Mondi:
Welcome to Mondi in South Africa, where we are a major employer, landowner and producer. South Africa is also home to the Mondi Ltd Limited headquarters, and as a dual-listed company, Mondi is listed on the Johannesburg Stock Exchange.
We have a paper mill in Durban and a pulp and linerboard mill in Richards Bay. We also own and manage more than 307,000 hectares of forestry plantations.
Our business plays a big role in the South African economy and is a major employer in the regions in which we operate. We directly employ more than 1,900 people; and have a significant contractor base of around 15,000 people, most of whom are employed in forestry. Click here to find out about our conservation and broad-based black economic empowerment work in the country.
We strive for continuous improvement in all aspects of our business. From 2004 onwards, we have made significant capital investments to ensure that our mills attain international standards in terms of product quality, competitive costs and environmental management.
Use the links to find out about our main South African operations, first founded with our Merebank mill in 1967 – the true beginning of the global business that is Mondi today.
In South Africa, we own and manage one of the largest Forestry Stewardship FSC®-certified plantation units in the world. The internationally recognised FSC® accreditation means that the company’s plantations are managed in a responsible and sustainable manner.
Several of our non-afforested areas are managed for biodiversity and forest protection. These include important wetlands, grassland and indigenous forest ecosystems. Nineteen registered national heritage sites indicate the environmental importance of Mondi’s non-afforested areas.
The future expansion of forestry in South Africa will largely be determined by the successful development of emerging black timber growers. We are closely involved with the Forestry Sector Charter process steering committee and are committed to the Charter, providing ongoing input along with other stakeholders.
