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Mondi
Mondi plc is a multinational packaging and paper group. Group offices are located in Weybridge, England. It has listings on the Johannesburg Stock Exchange and the London Stock Exchange, and is a constituent of the FTSE 100 Index. HistoryMondi has its roots in South Africa where, in 1967, the company's former owner, Anglo American plc, built the Merebank Mill in Durban.[3] In 2000, the company increased its holdings in Neusiedler AG and Frantschach AG, both Austrian businesses, to 100% and 70% respectively.[4] Also in 2000, it acquired Cofinec, a Polish business. It increased its holding in the Syktyvkar Mill in the Komi Republic to 90% in 2002.[5] In 2004 Mondi further increased its holdings in Frantschach AG, one of its Austrian businesses, to 100% and in Celuloza Świecie AG, another Polish business, to 71% (and then changed its name to Mondi Packaging Paper Świecie).[6] On 2 July 2007 the company demerged from its former parent company Anglo American plc, and became a dual-listed company, with Mondi Limited listed on the Johannesburg Stock Exchange and Mondi plc listed on the London Stock Exchange.[7] In 2011, Mondi demerged Mondi Packaging South Africa (listed as Mpact on Johannesburg Stock Exchange).[8] In 2012, Mondi acquired Nordenia to extend its consumer packaging business.[9] In May 2017, Peter Oswald was appointed as the new group chief executive officer. In the same year, the approval of the €335 million Štětí mill modernisation (Czech Republic) happened.[10] In 2019, Mondi completed the simplification of its corporate structure from dual listed into a single holding company under Mondi plc.[10] On 1 April 2020, Andrew King succeeded Peter Oswald as Mondi Group's chief executive officer.[11] On 4 May 2022, Mondi announced plans to divest from its Russian assets.[12] However, in December 2022, The Times reported than the sale of its Russian assets was "still awaiting approval".[13] In February 2023 Mondi was added to Ukraine International Sponsors of War list.[14] Mondi temporarily abandoned its stated intention of selling its most significant asset in Russia, the Syktyvkar Pulp and Paper Mill, to a company owned by Viktor Kharitonin, due to lack of progress with the necessary approvals, in June 2023.[15] However, in September 2023, the sale was completed and Mondi confirmed that it no longer trades in Russia.[16] In January 2023, it was announced Mondi had completed the acquisition of the Duino paper mill from the Italian graphic and speciality paper company, Burgo Group for €40 million.[17] In March 2024, the company made an agreed offer worth £5.1 billion to acquire DS Smith.[18] References
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