JOHANNESBURG - Packaging and paper company Mondi said on Thursday prices at the start of fourth quarter were on average marginally below those of the third quarter but that the impact of this lower pricing was expected to be largely offset by an easing of pressure on the cost base.
"The group’s robust business model, centred around our high-quality, cost-advantaged asset base, our portfolio of sustainable packaging solutions, clear strategic focus and culture of continuous improvement, gives us confidence in continuing to deliver a strong and industry-leading performance," it said in a trading update.
To further strengthen its value chain integration, enhance its offering in sustainable packaging solutions and improve the way it partnered with customers, Mondi said the group would be reorganised across four business units, namely Corrugated Packaging, Flexible Packaging, Engineered Materials and Uncoated Fine Paper.
The reorganisation had no impact on the overall group result, it added.
- African News Agency (ANA)