Mondi
plc
(Incorporated in England and
Wales)
(Registered
number:
6209386)
LEI: 213800LOZA69QFDC9N34
LSE share
code: MNDI
JSE share
code: MNP ISIN:
GB00BMWC6P49
25 October 2024
Mondi
announces closure of Stambolijski paper mill following
fire
Following
the fire at Mondi's Stambolijski mill (Bulgaria) on Tuesday 24
September 2024, the Group has announced that it will
permanently close the mill.
The fire
caused extensive damage to the 100,000 tonne per annum brown kraft
paper machine and stopped production at the site. Thanks to the
swift and professional response on the day, everyone on site
remained safe.
After
evaluating the options for repairing the mill and the ongoing
investment required for the mill to remain competitive into the
future, Mondi has concluded that closing the mill and serving
customers out of its network of other kraft paper mills is the best
course of action overall. This decision will affect around 300
Mondi Stambolijski employees.
There is
expected to be approximately €100 million of net closure costs,
primarily related to a non-cash asset impairment which we will book
as a special item.
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END
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Enquiries
Investors/analysts:
Fiona Lawrence
+44
742 587 8683
Mondi
Group: Head of Investor Relations
Media:
Chris Gurney +44
799 004 3764
Mondi
Group: Head of Corporate Communication
Richard Mountain
+44
790 968 4466
FTI
Consulting
Editor's
notes
Mondi is a
global leader in packaging and paper, contributing to a better
world by producing products that are sustainable by design. We
employ 22,000 people in more than 30 countries and operate an
integrated business with expertise spanning the entire value chain,
enabling us to offer our customers a broad range of innovative
solutions for consumer and industrial end-use applications.
Sustainability is at the centre of our strategy, with our ambitious
commitments to 2030 focused on circular driven solutions, created
by empowered people, taking action on climate.
In 2023,
Mondi had revenues of €7.3 billion and underlying EBITDA of €1.2
billion. Mondi is listed on the London Stock Exchange in the ESCC
category (MNDI), where the Group is a FTSE100 constituent. It also
has a secondary listing on the JSE Limited (MNP).
mondigroup.com
Sponsor in
South Africa: Merrill Lynch South
Africa Proprietary Limited t/a BofA Securities.