Johannesburg - SA- and London-listed paper and packaging company Mondi
[JSE:MNP] moved to strengthen its position in corrugated packaging in central and eastern Europe by buying Duropack’s German and Czech units for €125m.
The company said on Friday that the two corrugated box plants consumed approximately 130 000 tonnes of containerboard a year‚ while the recycled containerboard mill was capable of producing 105 000 tonnes per annum.
For the year ended December 31 2011‚ the acquired operations generated unaudited pro forma consolidated revenue of €160m‚ according to Mondi.
The completion of the deal is conditional on the approval by the relevant competition authorities and other customary closing conditions.
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