Mondi PLC Further re investment in new kraft top white machine

 
TIDMMNDI 
 
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 EUR340 million (up from EUR310 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 EUR700-800 
million per annum in 2018 and 2019. 
 
 
Contact details: 
 
Mondi Group 
 
Andrew King                                [phone] 
Group CFO 
 
Clara Valera                               [phone] 
Group Head of Strategy and Investor 
Relations 
 
Kerry Cooper                               [phone] 
Senior Manager - External Communication 
 
 
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 EUR7.10 billion and underlying EBITDA of EUR1.48 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. 
 
 
 
END 
 

(END) Dow Jones Newswires

October 15, 2018 03:45 ET (07:45 GMT)