Mondi postpones paper machine investment at Steti mill
Mondi has decided to postpone its €135-million investment (roughly C$196 million) in a new machine glazed speciality kraft paper machine at its Steti mill in the Czech Republic after a “careful review of market conditions.”
Peter Oswald, Mondi CEO, said:
“While the proposed new machine remains an exciting investment opportunity, offering the lowest cost production of its sort in Europe, recently announced industry capacity expansions are expected to result in a market imbalance over the period in which the new machine was planned to come on line. There is no change to our €335-million investment in modernizing the mill including rebuilding the fibre lines, de-bottlenecking the existing packaging paper machines and a new recovery boiler, which is progressing as planned.”
Mondi is an international packaging and paper group, employing around 25,000 people across more than 30 countries
>>READ ALSO: Anhui Shanying Paper acquires Nordic Paper