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Mondi Group fully acquires Ascania Nonwoven

21 Sep '15

3 min read

International packaging and paper maker Mondi Group said it has acquired 100 per cent of the outstanding share capital of Ascania Nonwoven Germany GmbH.

Mondi Group has bought the stake from Schloss Neugattersleben Group, a private equity investment group for a total consideration of €54 million on a debt-and-cash-free basis.

Ascania is a producer of nonwoven fabrics and nonwoven composites used as components in personal care products.

“The business operates from one site based in Aschersleben, Germany and is also a supplier of nonwovens for diaper elastic laminates to Mondi,” a Mondi Group press release stated.

“The business employs around 150 people and will be integrated into Mondi's Consumer Packaging Business Unit,” Mondi informed.

For the twelve months to May 31, 2015, Ascania generated unaudited revenues of €53 million and reported an EBITDA of €9.5 million.

CEO of Mondi Group David Hathorn said, “This acquisition supports the development of our Consumer Packaging business and will also strengthen Mondi's position as the preferred supplier of hygiene components.”

“These include elastic laminates for diapers and enable further growth with innovative products for baby diapers, adult incontinence, femcare and medical applications,” Hathorn added.

The transaction remains subject to competition clearance and is expected to complete by the fourth quarter of 2015.

Mondi is an international packaging and paper group, employing around 25,000 people across more than 30 countries.

Its key operations are located in central Europe, Russia, North America and South Africa and offers over 100 packaging and paper products, customised into more than 100,000 different solutions.

In 2014, Mondi Group had revenues of €6.4 billion and a return on capital employed of 17.2 per cent and is fully integrated across the packaging and paper value chain.

These begin from managing forests and producing pulp, paper and compound plastics, to developing effective and innovative industrial and consumer packaging solutions.

Its technologies and products are found in a variety of applications including hygiene components, stand-up pouches, super-strong cement bags, clever retail boxes and office paper.

Mondi Group products find their way into industries like automotive; building and construction; chemicals; food and beverage; home and personal care; packaging and paper converting, etc. (AR)

Fibre2Fashion News Desk – India