Merger of Mondi and DS Smith moves closer
News General news
Two industry giants could operate together in the future: British paper and packaging manufacturer DS Smith, London, responds to media speculation and confirms that a preliminary expression of interest from Mondi plc regarding a merger with DS Smith has taken place.
The DS Smith board understands that Mondi is considering a possible offer for DS Smith, although no offer has been received at this stage.
Mondi confirms that it is in the early stages of considering a possible merger with DS Smith.
It expects greater earnings stability over the economic cycle and improved security of paper supply, as well as significant synergies.
DS Smith claims to be one of the world's leading suppliers of sustainable, fibre-based corrugated packaging with activities in recycling and paper manufacturing. It employs around 30,000 people in 30 countries.
Mondi, headquartered in Vienna, is a global integrated packaging and paper group organised into three business units: corrugated packaging, flexible packaging and uncoated fine paper. 22,000 employees work in 100 production units in more than 30 countries.
The two major companies recently reported annual sales of £8.2bn and €8.9bn respectively.
