Packaging and paper group Mondi will postpone its €135-million investment in a new 90 000 t/y machine-glazed speciality kraft paper machine, at its Steti mill, in the Czech Republic.
“While the proposed new machine remains an exciting investment opportunity, offering the lowest-cost production of its sort in Europe, recently announced industry capacity expansions are expected to result in a market imbalance over the period in which the new machine was planned to come on line,” Mondi CEO Peter Oswald said on Tuesday.
The group noted, however, that there would be no change to its €335-million investment in modernising the Steti mill, including rebuilding the fibre lines, debottlenecking the existing packaging paper machines and a new recovery boiler.