Mondi Group will buy Egypt-based National Company for Paper Products and Import & Export (NPP) for €23.7m in a deal that further strengthens its position in the Middle East. NPP is a privately owned industrial bags producer, operating one plant in Giza near Cairo and serving mostly regional customers. Mondi is highly acquisitive, and is a major industrial bags producer in the Middle East, operating four plants in the region. “The acquisition of NPP complements our network of plants in the growing Middle East region and provides us with a leading position in Egypt to grow our business and better serve our customers”, Erik Bouts, CEO of fibre packaging at Mondi said. For the year ended December 2017, NPP generated revenue of €29m and adjusted earnings before interest, tax, depreciation and amortisation of €5m. The deal with Mondi is expected to be concluded during the first half of 2018. Mondi’s main operations are in central Europe, Russia, North America and SA. The group had put in ...
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