Mondi

Last updated

Mondi plc
Company type Public limited company
LSE:  MNDI
JSE: MNP
FTSE 100 Component
Industry
  • Packaging
  • Paper
Founded1967;57 years ago (1967)
Headquarters Weybridge, England, UK
Key people
  • Philip Yea (chair­person)  OOjs UI icon edit-ltr-progressive.svg
  • Andrew R. King(CEO)  OOjs UI icon edit-ltr-progressive.svg
Products
  • Pulp
  • Paper
  • Containerboard
  • Packaging
RevenueDecrease2.svg €7,330 million (2023) [1]
Decrease2.svg €790 million (2023) [1]
Decrease2.svg €(134) million (2023) [1]
Number of employees
22,000 (2024) [2]
Website www.mondigroup.com

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.

Contents

History

Mondi 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 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 the 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]

Related Research Articles

<span class="mw-page-title-main">International Paper</span> American pulp and paper company

The International Paper Company is an American pulp and paper company, the largest such company in the world. It has approximately 56,000 employees, and is headquartered in Memphis, Tennessee.

<span class="mw-page-title-main">Lenzing AG</span>

The Lenzing Group is an international group with its headquarters in Lenzing, Austria, and production sites in all major markets. Lenzing produces wood-based viscose fibers, modal fibers, lyocell fibers and filament yarn, which are used in the textile industry — in clothing, home textiles and technical textiles — as well as in the nonwovens industry. In addition, the company is active in mechanical and plant engineering. The Lenzing Group markets its products under the brand names TENCEL, VEOCEL, LENZING ECOVERO and LENZING.

<span class="mw-page-title-main">Amcor</span> Packaging company

Amcor plc is a global packaging company. It develops and produces flexible packaging, rigid containers, specialty cartons, closures and services for food, beverage, pharmaceutical, medical-device, home and personal-care, and other products.

Anglo American plc is a British multinational mining company with headquarters in London, England. It is the world's largest producer of platinum, with around 40% of world output, as well as being a major producer of diamonds, copper, nickel, iron ore, polyhalite and steelmaking coal. The company has operations in Africa, Asia, Australia, Europe, North America and South America.

A dual-listed company or DLC is a corporate structure in which two corporations function as a single operating business through a legal equalization agreement, but retain separate legal identities and stock exchange listings. Virtually all DLCs are cross-border, and have tax and other advantages for the corporations and their stockholders.

Rexam plc was a British-based multinational consumer packaging company headquartered in London, England. After spending much of its life as a paper producer known as Bowater, it diversified and became a leading manufacturer of beverage cans. It had 55 plants in over 20 countries across Asia, Europe, North America and South America. In June 2016, Rexam was acquired by Ball Corporation for $8.4 billion.

Investec is an Anglo-South African international banking and wealth management group. It provides a range of financial products and services to a client base in Europe, Southern Africa, and Asia-Pacific.

Smurfit Kappa Group plc is a corrugated packaging company and paper-based packaging company based in Dublin, Ireland. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

<span class="mw-page-title-main">Bank of Georgia</span> Bank headquartered in Tbilisi, Georgia

Bank of Georgia Group PLC is a UK incorporated financial services holding company with its registered office in London, England, and its corporate headquarters in Tbilisi, Georgia.

<span class="mw-page-title-main">London Stock Exchange Group</span> British financial services company

London Stock Exchange Group plc is a United Kingdom-based stock exchange and financial information company headquartered in the City of London, England. It owns the London Stock Exchange, Refinitiv, LSEG Technology, FTSE Russell, and majority stakes in LCH and Tradeweb.

<span class="mw-page-title-main">Bunzl</span> British multinational distribution and outsourcing company

Bunzl Public Limited Company is a British multinational distribution and outsourcing company headquartered in London, England.

<span class="mw-page-title-main">DS Smith</span> British multinational packaging business

DS Smith plc is a British multinational packaging business, headquartered in London. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

<span class="mw-page-title-main">FirstRand</span> South African financial service provider

FirstRand Limited, also referred to as FirstRand Group is the holding company of FirstRand Bank, and is a financial services provider in South Africa. It is one of the financial services providers licensed by the Reserve Bank of South Africa, the national banking regulator.

Noventiq Holdings plc is an Information technology company focusing on digital transformation and cybersecurity. Headquartered in London, and incorporated in Cayman Islands, the company operates in roughly 60 countries in Western and Eastern Europe, Central and Southeast Asia, Latin America, India, and the Middle East.

<span class="mw-page-title-main">Discovery Limited</span> South African-based financial services group

Discovery Limited is a South Africa-based financial services group that is listed on the Johannesburg Stock Exchange (JSE) with its headquarters in Sandton.

<span class="mw-page-title-main">Quilter plc</span> British financial services company

Quilter plc, formerly known as Old Mutual Wealth Management Limited, is a British multinational wealth management company formed to take over the UK wealth management business of Old Mutual plc after its separation of business. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The stock has a secondary listing on the Johannesburg Stock Exchange (JSE).

Premier FMCG (Pty) Ltd, commonly referred to as Premier, is a South African food manufacturer. The company is headquartered in Waterfall City, Midrand, just north of Johannesburg.

<span class="mw-page-title-main">Ninety One Limited</span> Dual-domiciled financial services company

Ninety One is an Anglo-South African asset management business, based in London and Cape Town and dual-listed on the London Stock Exchange and the Johannesburg Stock Exchange. It is a constituent of the FTSE 250 index.

<span class="mw-page-title-main">Fairfield Enterprises</span> British-based manufacturer of industrial belting

Fairfiel Enterprises was a leading British-based machine distributor and supplier of tooling and support services to the printing and packaging industries. The company was taken over in 2000 by the Swiss company Bobst AG, a supplier of machinery and services to the packaging industry.

International Sponsors of War was a list of companies and individuals maintained by the Ukrainian National Agency on Corruption Prevention (NACP) in connection with the Russo-Ukrainian War, particularly the Russian invasion of Ukraine. It had no legal standing but was nonetheless impactful. By December 2023, the list included 46 companies from 17 countries and 261 individuals who, by doing business with Russia, increase Russian revenues and ultimately Russian military budget in the ongoing war with Ukraine. The list is contrasted with international boycott of Russia when by 2023 more than 1000 companies withdrew or divested themselves from Russia following the invasion of Ukraine. NACP viewed the list as a reputational instrument for elements of global supply chains, aimed at reducing Russia's financial and technological capability to damage Ukraine. In September 2022 the list was included into London Stock Exchange Group's database. Some companies among International Sponsors of War are also restricted in other countries.

References

  1. 1 2 3 "Preliminary Results 2023" (PDF). Mondi. Retrieved 23 February 2024.
  2. "About us". Mondi Group. Retrieved 11 February 2024.
  3. "60 yearsof service" (PDF). Tappsa Journal. Archived from the original (PDF) on 17 April 2016. Retrieved 25 March 2016.
  4. "Frantschach Group fixes purchase of 25 factories from AssiDomän". APA. 15 May 2000. Retrieved 21 April 2022.
  5. Anglo American to invest US $250 million in Russian paper mill Archived 15 March 2012 at the Wayback Machine PMD, 18 March 2002
  6. "Frantschach wants to change the name of Mondi Packaging Paper Świecie". Money.pl. 25 April 2004. Retrieved 21 April 2022.
  7. "Anglo American to list Mondi unit on July 3". Reuters. 1 June 2007. Retrieved 21 April 2022.
  8. "Mpact starts slowly after Mondi demerger". IOL. 12 July 2011. Retrieved 21 April 2022.
  9. "Mondi Buys Nordenia to Extend Consumer Packaging Business". Bloomberg. 11 July 2012. Retrieved 21 April 2022.
  10. 1 2 "Mondi appoints Peter Oswald as new chief". FT. 1 February 2017. Retrieved 1 March 2019.
  11. "Andrew King to be appointed Mondi Group Chief Executive Officer". Pap News. 19 February 2020. Retrieved 11 August 2020.
  12. "UK packaging firm Mondi to sell Russian assets". Reuters. 4 May 2022. Retrieved 6 May 2022.
  13. "BP, HSBC and Unilever said they'd quit Russia in March, so why are they still there?". The Times. 3 December 2022. Retrieved 4 December 2022.
  14. "Ukraine: Govt. names 13 intl. companies sponsors of war due to their continued operations in Russia". 10 February 2023.
  15. "Mondi withdraws from deal to sell Syktyvkar facility in Russia". Packaging Gateway. 6 June 2023. Retrieved 19 July 2023.
  16. "Mondi completes exit from Russia as inks Syktyvkar sale". Morning Star. 4 October 2023. Retrieved 8 November 2023.
  17. Singsit, Jangoulun (13 January 2023). "Mondi closes acquisition of Duino paper mill near Trieste, Italy". Packaging Gateway. Retrieved 13 January 2023.
  18. "DS Smith shares lift after Mondi takeover deal agreed". The Herald. 8 March 2024. Retrieved 9 March 2024.