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Press release: Walki Group Oy signs agreement to acquire Mondi Belcoat NV

Published: 10.07.2019

Walki Group Oy signs agreement to acquire Mondi Belcoat NV and strengthen its position in engineered materials

Walki Group announces today that it has signed a definitive purchase agreement to acquire 100 % of the shares of Mondi Belcoat NV, a Belgian extrusion coating company of Mondi Group.

Belcoat produces highly specialised extrusion coated products serving customers across protective clothing, imaging, automotive and other speciality products markets. Belcoat is operating a manufacturing facility in Duffel, Belgium and employs just over 100 people. In 2018, Belcoat was generating a turnover of 37 million euros. Financial terms of the transaction have not been disclosed.

“This acquisition is in line with our strategy to expand our customer base and to strengthen our position in highly specialized engineered materials”, says Leif Frilund, President and CEO of Walki.

The transaction remains subject to competition clearance and other customary closing conditions and is expected to be completed in the second half of 2019.

For more information, please contact:
Leif Frilund, CEO Walki, tel. +358 40 5852134
Wolfgang Thissen, CFO Walki, tel. + 49 1736433081
Kari Salminen, EVP Construction, tel. +358 40 737 1917
Kerry Cooper, Senior Manager – External communication, Mondi Group, tel, +44 1932 82 6323

Walki in brief
Walki Group is a leading manufacturer of technical laminates and protective packaging materials specialising in the production of fibre-based, intelligent multi-laminate products for markets as diverse as energy-saving facings and construction membranes to barrier packaging applications. The Group has production facilities in Finland, Germany, the Netherlands, Poland, the UK, Russia and China. The Group has a workforce of around 950 people. In 2018, the Group’s annual turnover was EUR 317 million.

About Mondi
Mondi is a global leader in packaging and paper, delighting its customers and consumers with innovative and sustainable packaging and paper solutions. Mondi is fully integrated across the packaging and paper value chain - from managing forests and producing pulp, paper and plastic films, to developing and manufacturing effective industrial and consumer packaging solutions. Sustainability is embedded in everything Mondi does. In 2018, Mondi had revenues of €7.48 billion and underlying EBITDA of €1.76 billion.
Mondi has a dual listed company structure, with a primary listing on the JSE Limited for Mondi Limited under the ticker MND, and a premium listing on the London Stock Exchange for Mondi plc, under the ticker MNDI. Mondi is a FTSE 100 constituent, and has been included in the FTSE4Good Index Series since 2008 and the FTSE/JSE Responsible Investment Index Series since 2007.

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