Mondi Group signs an agreement to acquire Powerflute
Mondi Group has signed an agreement to acquire 100% of the outstanding shares in Powerflute Group Holdings Oy, a division of Nordic Packaging and Container Holdings, for a total consideration of €365 million on an enterprise value basis. Powerflute operates an integrated pulp and paper mill in Kuopio (Finland) with an annual production capacity of 285,000 tonnes of high-performance semi-chemical fluting. Powerflute’s premium semi-chemical fluting is sold to a diverse range of customers, primarily for packaging fresh fruit and vegetables, but also other end-uses such as electronics, chemicals and pharmaceuticals. Around half of the Company’s production is sold in Europe, while the remainder is exported globally. Click Read More below for additional information.