Mondi eyes growth through acquisition
Mondi has completed the acquisition of Hinton Pulp mill in Alberta, Canada, from West Fraser Timber for a total consideration of USD 5-million. Meanwhile in another development, DS Smith has confirmed that it has received a "highly preliminary expression of interest" from Mondi regarding a "combination".
20 Feb 2024 | By Aditya Ghosalkar
The Hinton mill has the capacity to produce 250,000 tonnes of pulp per annum
In a statement issued on 8 February in response to media speculation, the London-headquartered packaging firm’s board said: “The board of DS Smith understands that Mondi is considering a possible offer for DS Smith although no proposal has been received at this stage.
Meanwhile, packaging and paper manufacturer Mondi has completed the acquisition of Hinton Pulp mill in Alberta, Canada, from West Fraser Timber for a total consideration of USD 5-million.
The mill has the capacity to produce around 250,000 tonnes of pulp per annum and will provide Mondi with access to “local, high-quality fibre from a well-established wood basket” as part of a long-term partnership with West Fraser.
Last year, Mondi said it planned to invest USD 400 million into the plant, primarily for a new 200,000 tonne kraft paper machine, due to come online in late 2027. The company said this would integrate its paper bag operations in the Americas and support future growth.