Mondi says completes acquisition of Egypt's NPP in Egypt
Paper and packing company Mondi said late on Wednesday it had completed the acquisition of Egypt's National Company for Paper Products (NPP) for the equivalent of €24-million on a debt and cash free basis.
NPP, which operates an industrial bags plant in Giza near Cairo, will be integrated into Mondi’s fibre packaging business unit, a producer of industrial bags with four plants in the Middle East.
"We are excited to have completed this acquisition, which complements our existing network in the growing Middle East region and allows us to grow our business and better serve our customers," Mondi CEO for fibre packaging Erik Bouts said.
Listed in Johannesburg and London, Mondi has around 100 production sites across more than 30 countries, predominantly in central Europe, Russia, North America and South Africa.
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