Following our announcement on 16 August 2022, we are pleased to confirm that Mondi has completed the acquisition of the Duino mill near Trieste, Italy, from the Burgo Group.

Mondi plans to invest around €200 million in converting the existing lightweight coated mechanical paper machine at the mill into a high-quality, cost-competitive recycled containerboard machine with an annual capacity of around 420,000 tonnes. The mill is ideally located to source paper for recycling, supply Mondi's corrugated solutions plants in Central Europe and Turkey as well as to serve the growing local Italian market. The converted machine is expected to start-up in 2025.

"We are excited to welcome Duino mill to the Mondi Group and the opportunity this provides to grow our packaging business. We are committed to the long-term future of the mill and recognise its important role in the community and contribution to the local economy", says Markus Gärtner, CEO Mondi Corrugated Packaging.

Acquisition announcement on 16.08.22 available here.