by InTrieste
A British packaging company Mondi PLC agreed to buy the Duino paper mill from the Burgo Group for €40 million, reports Il Piccolo.
FTSE-100 paper and packaging giant Mondi said the purchase, which is conditional upon unspecified regulatory approvals, is anticipated to be complete in the coming months.
The Duino Mill is considered an attractive investment due to its closeness to two important export harbors, and is ideally located to supply the company’s Corrugated Solutions plants in Central Europe and Turkey as well as to serve the growing local Italian market.
More recycled container board capacities will be added to the Italian market. Mondi will acquire and rebuild the Duino LWC paper mill of Italian paper manufacturer Burgo. The two companies issued a press release saying that a sales agreement was already signed. The purchase price was put at €40m.
This move will boost the Italian market for recycled corrugated case material even more, stated local officials.
