Product category:
Printing Substrates - Paper, Forms and Stationery
News Release from: Mondi Business Paper Holdings
Edited by the Printingtalk Editorial
Team on 18 April 2007
Paper Company Goes Solo In De-Merger
Mondi is set to become an independent, publicly-quoted business, following a decision by its parent company, Anglo American, that it will de-merge the business in the middle of this year.
Anglo American confirmed that it will press ahead with plans to demerge Mondi, the international paper and packaging group, to concentrate on its core mining interests The process will result in Mondi becoming a dual-listed business with listings in London (UK) and Johannesburg (South Africa)
This article was originally published on Printingtalk on 27 Jan 2006 at 8.00am (UK)
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David Hathorn, the chief executive officer of Mondi Group, commented: "The de-merger represents a big step forward for Mondi.
Being part of Anglo American has served us well but today our two businesses operate in different market sectors.
We believe becoming an independent, publicly-quoted business will create new opportunities and give us more flexibility to take Mondi forward." It has also been announced that Sir John Parker and Cyril Ramaphosa will become Mondi's new non-executive joint chairmen.
They will be supported by other non-executive directors, who will be announced at a later date.
Mondi currently has 35,000 employees in 35 countries.
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