Home Intelligence Intelligence Paper Mondi completes acquisition of Turkish paper mill firm Olmuksan

Mondi completes acquisition of Turkish paper mill firm Olmuksan

Olmuksan International Paper
Olmuksan International Paper

Packaging giant Mondi has completed the acquisition of Turkish paper mill company Olmuksan from International Paper.

It has paid £66 million (£56.73 million) for the five corrugated plants owned by Olmuksan.

Mondi group chief executive Andrew King said: “We are delighted to have completed this acquisition, which significantly strengthens our position in the fast-growing Turkish corrugated market and expands our offering to existing and new customers in the region. We look forward to welcoming the Olmuksan team to Mondi.”

This purchase will add a further five Turkish paper mills to the four corrugated plants and recycled containerboard facilities that are operated by Mondi in Turkey.

Mondi will now launch a mandatory tender offer to acquire the remaining 9.62% of outstanding shares in the company that it does not already own.

In January, Mondi announced its intention to buy Olmuksan.


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