The US $105m deal comprises an integrated kraft paper mill in Pine Bluff Arkansas and nine bags plants across the US, with sales of approximately $437m in the 12 months ended 31 March 2014.
Mondi Group announced the intention to acquire this business on 3 June 2014.
“The combination of these plants with Mondi’s existing network will create a leading bags player in North America and expand our growing global footprint in this market,” said Mondi CEO David Hathorn. “We look forward to offering innovative solutions to our enlarged customer base.”
Industrial bags and kraft paper are a core part of Mondi’s business. Its existing network already includes 36 industrial bags plants in Europe, the Middle East, North Africa, Southeast Asia and North America, including four plants in Mexico and the US, and five kraft paper mills in Europe producing over a million tonnes per annum.
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