Mondi Group signs agreement to acquire KSP

Mondi Group has signed an agreement for the acquisition of 95% of the outstanding share capital in KSP, Co. and related interests ("KSP”).

Established in 1973, KSP is a flexible packaging company specialised in the production of high-quality spouted and retort stand-up pouches for the food, pet food and beverage industries with its main manufacturing site near Seoul, South Korea, and an interest in a plant near Bangkok, Thailand. KSP exports approximately two thirds of its production, mainly to the US, Europe and other Asian countries. For the twelve months ended 31 December 2014, KSP generated revenues of approximately USD50 million.

KSP offers an excellent product fit with Mondi's stand-up pouch operations in Korneuburg, Austria, and Jackson, US, and will enable Mondi to better serve its customers in the US and Asia.

Commenting on the acquisition, David Hathorn, Chief Executive of Mondi Group, said: "This acquisition further supports Mondi's strategy to develop in high value-added, high-growth markets in our Consumer Packaging business.”

The transaction remains subject to competition clearance and other customary closing conditions and is expected to complete during the fourth quarter of 2015.

About Mondi
Mondi is an international packaging and paper Group, employing around 25,000 people across more than 30 countries. Our key operations are located in central Europe, Russia, North America and South Africa. The company offers over 100 packaging and paper products, customised into more than 100,000 different solutions for customers and end consumers. In 2014, Mondi had revenues of €6.4 billion and a return on capital employed of 17.2%.

The Mondi Group is fully integrated across the packaging and paper value chain - from managing forests and producing pulp, paper and compound plastics, to developing effective and innovative industrial and consumer packaging solutions. The technologies and products can be found in a variety of applications including hygiene components, stand-up pouches, super-strong cement bags, clever retail boxes and office paper. The key customers are in industries such as automotive; building and construction; chemicals; food and beverage; home and personal care; medical and pharmaceutical; packaging and paper converting; pet care; and office and professional printing.

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