Jul 03, 2007
Unbundled Mondi ready to roll out ambitious growth plansBack
Johannesburg|ITS|Mondi Ltd|Mondi Plc|Packaging|Paper|Projects|Poland|Russia|United Kingdom|Mining|Packaging|Cyril Ramaphosa|David Hathorn|John Parker|Shanduka
© Reuse this
Of the €875-million, it would spend €525-million in Russia, and €350-million in Poland.
Mondi CEO David Hathorn said that the company was also involved in negotiations to acquire a Turkish firm, but would not disclose further details, speaking in a telephone interview.
"We are continuously working on a variety of acquisitions," he said.
The company was focusing its growth efforts in emerging markets, where costs were lower and growth levels higher.
Its stock began trading at R68,80 in Johannesburg on Tuesday, but had slid by nearly 7% to R63,70 a share when the JSE closed, giving the company a market capitalisation of R32,81-billion.
Mondi conditionally began trading on the LSE and the JSE on Monday, until it had high court approval for its split from Anglo American, which was received on Monday night.
The company was spun off from the Anglo American group as the diversified miner wanted to focus on its core mining businesses.
Mondi will remain headquartered in Johannesburg, and will have the same management team for LSE- and JSE-listed Mondi PLC and Mondi Ltd, which is only quoted on the Johannesburg bourse.
The companies will both be chaired by Cyril Ramaphosa, who leads Mondi’s black-economic empowerment partner Shanduka, and Sir John Parker of the UK
Edited by: Liezel Hill© Reuse this Comment Guidelines
Other Agriculture News
Recent Research Reports
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
Real Economy Insight: Construction 2014 (PDF Report)
This five-page brief covers key developments in the construction industry over the past 12 months. It provides an overview of the sector and includes details of employment in the sector, infrastructure and municipal spending, as well as insight into companies’...
Real Economy Insight: Electricity 2014 (PDF Report)
This five-page brief covers key developments in the electricity industry over the past 12 months, including details of State-owned power utility Eskom’s generation activities, funding and tariffs, independent power producers and prospects for the sector.
Real Economy Insight: Road and Rail 2014 (PDF Report)
This six-page brief covers key developments in the road and rail industries over the past 12 months, including details of South Africa’s road and rail network and prospects for both sectors.
Real Economy Insight: Steel 2014 (PDF Report)
This four-page brief covers key developments in the steel industry over the past 12 months. It provides an overview of the global and South African steel and stainless steel markets, South Africa’s major steel producers and events that have shaped these markets.
This Week's Magazine
Local aerospace company Denel Aerostructures (DAe), part of the State-owned Denel Group, has won a fourth contract to manufacture parts for the Airbus A400M military air transport and air-to-air refuelling aircraft. The new contract, which was won in an international...
Although CEO Mark McChlery and chief marketing officer Bob Skinstad likened themselves to children in a playground when taking on the task of “reengineering and repositioning” the Seartec brand, the “young, dynamic and enthusiastic guys” were like proud...
An increasing number of buyers, in both the new and used car markets, are opting for finance structures that lower their monthly repayments, says asset financing company WesBank. These include the use of large balloon payments (also known as residuals), as well as...
Tertiary education institutions can use search engine giant Google’s Chromebook to provide secure mobile end-point devices for students on which they can share documents, work collaboratively on documents and access education materials and applications being used...
Local ceiling and partition company Abbeycon has beaten global competition at the Saint-Gobain Gypsum International Trophy competition, which was held last month in Berlin, Germany.