National Property Portfolio on Auction

National Property Portfolio on Auction
Loading

Mondi: Convenience packaging booms

March 11 2013 at 08:00am
By Bloomberg

Comment on this story

Mondi expects demand for its packaging materials to be immune from economic woes as smaller households mean increased spending on wrapped convenience food and goods. “There is positive growth in mature markets and very good growth in the developing markets” for packaging, chief executive David Hathorn said on Friday. With 70 percent of such wrappings used in fast-moving consumer goods such as food, demand would grow regardless of the economy, Hathorn said. Mondi, the largest producer of office paper in eastern Europe, is growing market share in higher-margin consumer packaging as shrinking European families buy more convenience products. Mondi bought Nordenia International for e240 million (R2.8 billion) in cash and took on e398m of its debt last year. This year it would “focus on bedding down acquisitions”, Hathorn said. Mondi fell 0.07 percent to R122.40 on Friday. – Bloomberg


sign up
 
 

Comment Guidelines


  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

     

Join us on

 IOL-Social networks IOL-Social networks IOL-Social networks IOL-Social networks
IOL Travel

Make sure you find the best available airfares with our easy-to-use search engine.

Travel_pic_enw