Mayr-Melnhof Karton AG / Acquisition of Kotkamills successfully completed

02.08.2021, 2275 Zeichen
Corporate news transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is responsible for the content of this announcement.
MM strengthens its position in virgin-fiber based cartonboard and innovative barrier cartonboard solutions for plastic replacement
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Vienna - The Mayr-Melnhof Group (MM) has completed the acquisition of Kotkamills, Finland, which was agreed in December 2020, after receiving approval from all relevant competition authorities. Through the acquisition, MM strengthens its position in the virgin fiber cartonboard (FBB) market with an attractive range of barrier cartonboard solutions that can replace PE (polyethylene) -coated cartonboard. Moreover, MM enters the growing cupstock market. This acquisition complements MM's established market position in recycled cartonboard. In addition, MM diversifies the business with Saturating Kraft Paper in which Kotkamills is one of the global leaders.
"MM Kotkamills will take a strong and dynamic position within MM as the innovator in novel cupstock solutions based on water-based dispersion barriers applied by on-line technology. Our medium-term objective is to raise the sales volume to the capacity of close to 400,000 t of cartonboard per annum. We are looking forward to a successful cooperation with our new colleagues," says Peter Oswald CEO of the MM Group.
MM Kotkamills operates the most modern virgin fiber board machine in Europe (built in 2016) as well as a machine for Saturating Kraft Paper with a capacity of 170,000 t and a sawmill. The mill employs approximately 500 people and generated sales of around EUR 380 million in 2020.
MM is Europe's largest producer of cartonboard and folding cartons focusing on sustainable and innovative fiber-based packaging solutions. In 2020, the group generated sales of around EUR 2.5 billion and employed approx. 10,000 people.
end of announcement euro adhoc
issuer: Mayr-Melnhof Karton AG Brahmsplatz 6 A-1040 Wien phone: +43 1 50 136 FAX: mail: investor.relations@mm-karton.at WWW: www.mayr-melnhof.com ISIN: AT0000938204 indexes: ATX, ATX PRIME stockmarkets: Wien language: English
Digital press kit: http://www.ots.at/pressemappe/33715/aom

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