Mondi Acquires Two Paper Bag Lines and Signs Exclusive Supplier Agreements in Egypt
The acquired production lines will increase Mondi's annual capacity by approximately 60-80 million bags.
July 28, 2020 - Mondi Paper Bags, part of Mondi Group, has acquired two paper bag lines from Helwan Cement Company and InterCement Sacs, two major cement producers in Egypt. The acquired production lines will increase Mondi's capacity by approximately 60-80 million bags annually and strengthen Mondi's position in the Middle Eastern bag market, particularly in supporting suppliers to the construction industry. Terms of the deal were not disclosed. Mondi Paper Bags, a global producer that operates two plants in Egypt, will also become the exclusive supplier of paper bags to Helwan Cement Company and InterCement Sacs. "We are excited to have signed long-term supply agreements with two of our biggest customers in Egypt further securing our position in the Middle Eastern market," said Claudio Fedalto, Chief Operating Officer of Mondi Paper Bags. "These collaborations will offer Helwan and InterCement access to our latest innovations, industry expertise and our strong plant network and customer service in the Middle East." Mondi is a global leader in packaging and paper, offering innovative and sustainable packaging and paper solutions. The company is fully integrated across the packaging and paper value chain. To learn more, visit: www.mondigroup.com. SOURCE: Mondi plc |