Mondi Group
From Wikipedia, the free encyclopedia
| Mondi plc | |
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| Type | Public (LSE: MNDI, JSE: MONDI) |
| Founded | 1967 |
| Headquarters | Addlestone, United Kingdom Melrose, South Africa |
| Key people | David Hathorn (CEO), Peter Oswald (CEO, Mondi Packaging), Günther Hassler (CEO, Mondi Business Paper) |
| Industry | Manufacturing |
| Products | Paper and Packaging |
| Revenue | € 5.75 billion (2006) |
| Employees | 34,000 |
| Website | www.mondigroup.com |
The Mondi Group is an international paper and packaging manufacturer. On 2nd July 2007 the Mondi Group demerged from its former parent company Anglo American, listing on the London Stock Exchange (85%) and the JSE (15%) from that point of time.
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[edit] History
The roots of Mondi go back to 1967 in South Africa, when Mondi's former owner Anglo American plc built the Merebank Mill. Following more than two decades’ growth and consolidation in South Africa, Mondi came to Europe in the early 1990s, where they followed a strategy of growth through acquisition.
During this acquisition phase plants like Austria’s Neusiedler AG and Frantschach AG, Cofinec in Poland, and Russia’s Syktyvkar Mill became part of the Mondi Group. These acquisitions are central to the future expansion plans alongside emerging opportunities in Asia and America.
Nowadays Mondi has bought businesses in countries including Austria, the UK, France, Russia, Czech Republic, Poland, Hungary, Slovakia, Denmark, the Netherlands, Bulgaria and Italy, as well as operations in Mexico, the US and China.
In 2004, Mondi restructured the business into two main business units, Mondi Packaging and Business Paper, both of which now have dominating positions in their respective markets. Mondi also owns UK and South African newsprint businesses and Europapier, a european paper merchant group. Mondi Group achieved sales of €5.36 billion in the year following the restructuring.
On 2nd July 2007 the Mondi Group demerged from its former parent company Anglo American. Mondi turned into a dual-listed company with primary listings in both Johannesburg and London. This structure reflects the fact that the majority of Mondi’s business is in Europe whilst recognising their South African heritage and their significant ongoing operations there.
The DLC comprises Mondi Limited, a South African incorporated company holding the African assets, and Mondi plc, a UK incorporated company holding the non-African assets. Together Mondi Limited and Mondi plc are known as the Mondi Group. The Mondi Group is managed as a single enterprise and the Board of Directors and management team of Mondi Limited and Mondi plc are identical.
Mondi Limited is listed on the Johannesburg JSE and Mondi plc has a primary listing on the London Stock Exchange with a secondary listing on the JSE. The Mondi Group complies with the legal, governance and accounting regulations of South Africa and the UK.
[edit] Company Structure
The Mondi Group is split up into two separate business units
