Mondi Group acquires Suez Bags (Egypt)
Company Press Release
Mondi is pleased to confirm that it has completed the acquisition of a control position in Suez Bags Company S.A.E (“Suez Bags”) for EGP26.01 per share, which implies an equity value of EGP284 million (€13.6 million) on a 100% basis. Mondi now owns 96% of the company.
Suez Bags is an industrial bags producer operating one plant near Cairo in Egypt serving mostly regional customers and is Mondi’s second industrial bags acquisition in Egypt, following the acquisition of NPP in June this year.
The business will be integrated into Mondi’s Fibre Packaging business. Mondi is the global leader in industrial bags, with more than 40 operating sites including five in the Middle East.
The acquisition of Suez Bags complements our network of plants in the growing Middle East region and provides us with a leading position in Egypt to grow our business and better serve our customers.
Mondi is a global leader in packaging and paper, delighting its customers and consumers with innovative and sustainable packaging and paper solutions. Mondi is fully integrated across the packaging and paper value chain – from managing forests and producing pulp, paper and plastic films, to developing and manufacturing effective industrial and consumer packaging solutions. Sustainability is embedded in everything Mondi does. In 2017, Mondi had revenues of €7.10 billion and underlying EBITDA of €1.44 billion. Mondi has a dual listed company structure, with a primary listing on the JSE Limited for Mondi Limited under the ticker MND, and a premium listing on the London Stock Exchange for Mondi plc, under the ticker MNDI. Mondi is a FTSE 100 constituent, and has been included in the FTSE4Good Index Series since 2008 and the FTSE/JSE Responsible Investment Index Series since 2007.
Albert Klinkhammer – Head of Public Affairs – Tel: +43 1 79013 4056
Clara Valera – Group Head of Strategy and Investor Relations – Tel: +44 193 282 6357
Source: Mondi plc