Powerflute operates an integrated pulp and paper mill in Kuopio (Finland) with an annual production capacity of 285,000 tonnes of high-performance fluting. Powerflute’s premium, semi-chemical fluting is sold to a diverse range of customers, primarily for packaging fresh fruit and vegetables, but also other end-uses such as electronics, chemicals and pharmaceuticals. Around half of the Company’s production is sold in Europe, while the remainder is exported globally.
For the year ending Dec. 31, 2017, the company is expected to generate revenues of around €183 million and unaudited EBITDA of around €42 million. Powerflute will be integrated into Mondi’s Packaging Paper Business Unit.
Commenting on the acquisition, Peter Oswald, CEO of Mondi Group, says, “The acquisition of Powerflute supports our strategy of investing in high-quality packaging and paper assets. We are excited by this opportunity to expand our customer offering by further broadening our containerboard product range and geographic reach.
The transaction is expected to complete in the first half of 2018.