Mondi Limited
(Incorporated in the Republic of South
Africa)
(Registration number: 1967/013038/06)
JSE share code: MND ISIN: ZAE000156550
Mondi plc
(Incorporated in England and
Wales)
(Registered number: 6209386)
LEI: 213800LOZA69QFDC9N34
JSE share code: MNP ISIN:
GB00B1CRLC47
LSE share code: MNDI
15 October 2018
As part of the dual listed company structure, Mondi Limited and
Mondi plc (together ‘Mondi Group’ or ‘Mondi’) notify both the JSE
Limited and the London Stock Exchange of matters required to be
disclosed under the Listings Requirements of the JSE Limited and/or
the Disclosure Guidance and Transparency and Listing Rules of the
United Kingdom Listing Authority.
Update on Mondi’s investment in new
300,000 tonne kraft top white machine in Slovakia
Having recently obtained the necessary permitting, Mondi is
proceeding with the investment in a new 300,000 tonne per annum
kraft top white machine at Ruzomberok (Slovakia), with start-up expected towards the
end of 2020.
Commenting on the project, Mondi Group CEO Peter
Oswald said, “This investment provides an exciting opportunity
for Mondi to leverage our cost advantaged mill in Slovakia to complement our portfolio and serve
a growing market with innovative and sustainable containerboard
solutions.”
The machine will produce a new and unique environmentally sound
containerboard grade, kraft top white, which combines the strength,
printability and appearance benefits of a white virgin fibre top
layer with the economic advantages of a recycled fibre bottom
layer. Its access to integrated bleached hardwood pulp production,
scale and location benefits due to its brownfield nature will
provide this machine a cost advantage difficult to replicate. Kraft
top white will target the growing white top liner markets for
applications such as shelf-ready packaging, point of sale displays,
customised packaging, e-commerce, consumer durables and other
specialised applications.
The related pulp mill upgrade at the same site is progressing
according to plan with start-up expected in late 2019. This upgrade
will debottleneck pulp production by 100,000 tonnes per annum,
which will be integrated into the containerboard production once
the new machine ramps up.
The total project cost has been revised to €340 million (up from
€310 million), as a result of refinements to the machine’s
technical concept and higher construction costs since the project
was initially scoped. Group capital expenditure continues to be in
line with our previous estimate of €700-800 million per annum in
2018 and 2019.
Contact details:
Mondi Group |
|
Andrew King
Group CFO |
+44 193 282 6321 |
Clara Valera
Group Head of Strategy and Investor Relations |
+44 193 282 6357 |
Kerry
Cooper
Senior Manager – External Communication |
+44 193 282 6323 |
About Mondi
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
€1.48 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.
Sponsor in South Africa: UBS
South Africa Proprietary Limited.