Mondi redesigns itself

MONDI Group will buy 95% of South Korean flexible packaging company KSP and related interests, expanding its global packaging business, the international packaging and paper manufacturer said on Monday.

KSP specialises in the production of high-quality spouted and retort stand-up pouches for the food, pet food and beverage industries. Its main manufacturing site is near Seoul, South Korea, and it has an interest in a plant near Bangkok, Thailand.

"This acquisition further supports Mondi’s strategy to develop in high value-added, high-growth markets in our consumer packaging business," Mondi Group CEO David Hathorn said on Monday. He said KSP offered an "excellent product fit" with Mondi’s stand-up pouch operations in Korneuburg, Austria, and in Jackson in the US, and would enable Mondi to better serve its customers in the US and Asia.

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