REG-Mondi Plc: Mondi announces closure of Stambolijski paper mill following fire

MondiAnnouncement

25/10/2024 09:00

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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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.



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