Mondi to acquire Duino mill for €40m

Mondi has confirmed that it has agreed to acquire the Duino mill near Trieste, Italy from the Burgo Group for a total consideration of €40m.

The mill currently operates one paper machine producing lightweight coated mechanical paper. Mondi plans to convert this paper machine to produce around 420,000 tonnes per annum of high-quality recycled containerboard for an estimated investment of around €200m.

Close to two important export harbours, Duino is ideally located to supply the Group’s Corrugated Solutions plants in Central Europe and Turkey as well as to serve the growing local Italian market. The containerboard machine will strengthen integration in its corrugated packaging division and provide Mondi with security of supply to better serve its customers.

Andrew King, Group CEO, Mondi, said, “We are excited by this opportunity to invest in the growth of our packaging business, build on our integrated platform and broaden our geographic reach.”

The acquisition is subject to competition clearance and other closing conditions and completion is expected in the second half of the year.

Join our Newsletter

Sign up to our weekly newsletters for updates on articles, interviews and events

Sign up