2nd Nov 2015 08:40
LONDON (Alliance News) - Anglo-South African paper and packaging company Mondi PLC on Monday said it has bought a 95% stake in KSP Co for an undisclosed amount.
KSP is a flexible packaging company focused on the food, pet food and drinks industry, Mondi said. It has its main manufacturing facility in Korea and has an interest in another plant in Thailand.
Mondi said the acquisition will complement its stand-up pouch packaging operations in Austria and the US and will allow the company to better serve its customers in the US and Asia.
"This acquisition further supports Mondi's strategy to develop in high value-added, high-growth markets in our Consumer Packaging business," said David Hathorn, Mondi's chief executive.
Shares in Mondi were up 0.1% to 1,506.00 pence on Monday morning following the announcement.
By Sam Unsted; [email protected]; @SamUAtAlliance
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