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4-Traders Homepage  >  Equities  >  Johannesburg Stock Exchange  >  Mondi Limited    MNDJ   ZAE000156550

MONDI LIMITED (MNDJ)
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Mondi : buys UK packaging firm Excelsior Technologies

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02/06/2017 | 11:01am CET

JOHANNESBURG (Reuters) - South Africa's Mondi (>> Mondi Limited) bought UK-based packaging firm Excelsior Technologies for 33 million pounds ($41 million) from funds managed by private equity firm Endless LLP and certain minority shareholders, the firm said on Monday.

JOHANNESBURG (Reuters) - South Africa's Mondi (>> Mondi Limited) bought UK-based packaging firm Excelsior Technologies for 33 million pounds ($41 million) from funds managed by private equity firm Endless LLP and certain minority shareholders, the firm said on Monday.

Mondi's Chief Executive David Hathorn said in a statement that the British business will support the development of Mondi's consumer packaging division.

Excelsior makes packaging, mainly for food, and owns a packaging technology for microwave steam cooking. For the year ended 31 December 2016, it generated revenues of 39 million pounds, Mondi said.

Mondi, which has operations in more than 30 countries, makes and sells consumer packaging and paper products as part of its Europe and International division's Packaging Paper business.

In 2016 Hathorn told Reuters that Mondi could borrow to fund acquisitions after spending 94 million euros ($101 million) buying consumer packaging businesses in 2015.

($1 = 0.8031 pounds)

($1 = 0.9306 euros)

(Reporting by Nqobile Dludla; Editing by Adrian Croft)

Stocks treated in this article : Mondi Limited, Mondi Plc
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2017Mondi (MODLY) Investor Presentation - Slideshow 
Financials (€)
Sales 2017 7 350 M
EBIT 2017 1 021 M
Net income 2017 -
Debt 2017 1 199 M
Yield 2017 3,39%
P/E ratio 2017 14,17
P/E ratio 2018 13,06
EV / Sales 2017 1,55x
EV / Sales 2018 1,47x
Capitalization 10 177 M
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Number of Analysts 3
Average target price 23,2 €
Spread / Average Target 11%
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Managers
NameTitle
Peter Josef Oswald Chief Executive Officer & Executive Director
David Michael Williams Joint Chairman
Tshamano Mohau Frederik Phaswana Joint Chairman
Andrew King Chief Financial Officer & Executive Director
John Lindahl Group Technical Director
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WESTROCK1.72%16 380
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