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Investment
Investment in Plovdiv mill
In June 2006, Mondi Packaging has closed an agreement to acquire 100% of Paper Factory Stambolijski A.D. (PFS), a Bulgarian kraft paper and containerboard mill with integrated bag converting plant, from the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD).The deal has been approved by all respective regulatory bodies.
During this process PFS was renamed into Mondi Packaging Stambolijski EAD.
Mondi Packaging Stambolijski which is located in the town of Stambolijski, some 20 kilometres from Bulgaria’s second largest city Plodiv. It is an integrated paper mill with current annual production of 75,000 tonnes of high quality sack kraft paper, an estimated 19,000 tonnes of fluting and 25 million bags and employs approximately 900 people.
Mondi Packaging Stambolijski is well located for exports to the growing markets of South East Europe, Turkey and the Middle East, where Mondi Packaging has no paper mill. The bag operation will complement Mondi’s Turkish, Romanian, Greek and Serbian bag business.
Mondi Packaging Paper will now set forward the task of integrating and ReBranding the mill to incorporate it into the Mondi Packaging offering. The ReBranding Process is already working really well as our new colleagues are very enthusiastic and supportive about it.
The management is convinced that this strategically important acquisition will further strengthen both our kraft paper and bag converting divisions and it again demonstrates the ongoing commitment of the Anglo Group to invest in the further growth of our business. The synergies should further strengthen the extensive Kraft Paper portfolio of Mondi Packaging Paper, enabling the Group to offer an even wider range of products to it’s clients.
