Mondi Group signs an agreement to acquire NPP in Egypt
International packaging and paper group Mondi said on Monday it had signed an agreement to acquire 100% of the outstanding shares in Egypt's National Company for Paper Products and Import & Export for EGP510-million on a debt and cash free-basis.
NPP is a privately owned industrial bags producer, operating one plant in Giza near Cairo and serving mostly regional customers.
Mondi is the leading industrial bags producer in the Middle East, operating four plants in the region.
“The acquisition of NPP complements our network of plants in the growing Middle East region and provides us with a leading position in Egypt to grow our business and better serve our customers," said Erik Bouts, CEO Fibre Packaging in the Mondi group.
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