Mondi to take over industrial bags producer in Egypt

30 Apr 2018 − 

Mondi is growing in Egypt. The company will acquire a local industrial bags producer, thereby adding a fifth plant to its operations in the Middle East.

Mondi plans to take over National Company for Paper Products and Import & Export (NPP) in Egypt for a consideration of EGP510m (€29m). The company said that a corresponding agreement had been signed, adding that the transaction was scheduled to be finalised during the first half of 2018.

NPP is a producer of industrial bags, operating one plant in Giza near Cairo. According to Mondi, the company is serving mostly regional customers. In 2017, NPP booked sales of EGP577m (€29m).

Mondi describes itself as the leading industrial bags producer in the Middle East, where it operates four plants. " The acquisition of NPP complements our network of plants in the growing Middle East region and provides us with a leading position in Egypt," commented Erik Bouts, CEO of Mondi Fibre Packaging.

Find the entire article and any associated background information in EUWID Pulp and Paper no. 18.

Our weekly newsletter's print and e-paper versions keep busy professionals up-to-date on the latest news from European pulp and paper markets.

Test EUWID Pulp and Paper free of charge and without any obligation by clicking here.

Tags of this news:

previous − Norpac restarts idled PM 1 in response to improved market environment

Metsä Fibre pushes for another NBSK pulp price hike in Europe  − next