UK packaging firm Mondi has bought an Italian mill and plans to convert it to produce recycled containerboard.
It has acquired the Duino mill near Trieste for €40 million (£35.45 million) from Burgo Group.
The mill currently operates one paper machine producing lightweight coated mechanical paper.
But Mondi plans an investment of around €200 million (£177.3 million) to convert this paper machine into one that produces high-quality recycled containerboard.
It is expected to produce around 420,000 tonnes per year.
The mill is close to two export harbours and is expected to serve Mondi’s corrugated plants in Central Europe and Turkey, as well as the local Italian market.
Although the deal was announced in August 2022, it has only now been completed following competition clearance and other closing conditions.
