Mondi today announces that it has entered into an agreement to acquire the German Benelux and UK corrugated converting and solid board operations of Schumacher Packaging The recycled corrugated case material mill Cartiere Modesto Cardella near Lucca and the Nyrsko site in Czech Republic are not affected by the transaction The acquisition comprises 7 corrugated converting plants 2 solid board mills and 4 solid board converting plants These operations complement Mondi’s existing network of corrugated plants across Central and Eastern Europe adding over 1 billion m² of capacity when fully operational which is subject to certain customary regulatory approvals is expected to close in the first half of 2025 It will expand Mondi’s corrugated footprint in Western Europe and add complementary fibre-based products focused on e-commerce and fast moving consumer goods (FMCG) Schumacher Packaging’s Western European Packaging Assets delivered an adjusted Ebitda of €66m The Ebitda contribution is expected to increase as the recently added capacity at the Greven site in Germany ramps up Identified €22m of cost synergies are expected to be realised over the three years following completion This excludes expected one-off cash costs of approximately €18m co-CEOs of Schumacher Packaging will remain within the company respectively as a strategic adviser and as Chief Operating Officer Solid Board said: “Our focus is on investing to meet the growing market demand for sustainable packaging while driving value for our stakeholders This acquisition significantly increases our corrugated converting capacity and offers strong downstream integration opportunities while broadening our customer offering with a complementary fibre-based product range We are delighted to be acquiring these assets and look forward to welcoming our new Schumacher Packaging colleagues and customers to Mondi Mondi will have an enhanced customer proposition and a strong platform for further growth.” Service Customer Service+49 7224 9397-701servicenoSpam@GO-AWAYeuwid.de Editorial Team+49 7224 9397-0papernoSpam@GO-AWAYeuwid.com Get the latest news about developments and trends in the industry sent to you once a week free of charge by newsletter Sign up for our newsletter We use cookies and external services on our website others enhance your user experience or help us improve this website You can change your privacy settings any time by clicking privacy policy Necessary cookies are required for the correct functioning of the website Content from video platforms and map services is blocked by default. If access to these services is accepted, separate consent is no longer required when using them. You can find more information on the individual external services in our privacy policy By 2024-01-03T10:58:00 The Uvex Sports Group with its brands Uvex Alpina and Hiplok appointed a new management duo on Jan Patrick Hebling and Patrick Angeletti have joined the management board as CEO and CFO/COO explained: “In appointing new members to the .. SUBSCRIBE TODAY! View all subscription plans on our subscription page. analysis and advice for the global sporting goods industry Site powered by Webvision Cloud