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Mondi Group Completes Acquisition of Powerflute

Powerflute Group Holdings Oy was a division of Nordic Packaging and Container Holdings.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Further to the announcement made on Dec. 22, 2017, Mondi confirms that all conditions have been satisfied and it has completed the acquisition of 100% of the outstanding shares in Powerflute Group Holdings Oy, a division of Nordic Packaging and Container Holdings, for a total consideration of €365 million on an enterprise value basis.
 
Powerflute operates an integrated pulp and paper mill in Kuopio, Finland, with an annual production capacity of 285,000 tons of high-performance semi-chemical fluting. The business will be integrated into Mondi’s Packaging Paper business unit.
 
“We are excited to have completed this acquisition, which supports our strategy of investing in high-quality packaging and paper assets, further broadens our containerboard product range, and extends our geographic reach,” Mondi Group CEO Peter Oswald said.

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