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Mondi Invests over € 600 Million in a New Plant in Bulgaria

The International Packaging and Paper Production Group Mondigroup intends to invest over EUR 600 million in the construction of a new plant in Bulgaria. This was made clear by a meeting of Deputy Economy Minister Lachezar Borisov and Executive Director of Bulgarian Investment Agency (BIA) Stamen Yanev with Technical Director of Mondi Christian Skilich, reports money.bg.

Mondi is an international group for packaging and paper production, with about 26,000 employees in production units in 31 countries located on four continents. It serves markets around the world. Mondi's main production units are located in central Europe, Russia and South Africa.

The history of Mondi Stamboliiski EAD, the biggest pulp and paper producer in Bulgaria, began more than 60 years ago when the factory was established in 1952 on the banks of the Maritsa River in the town of Stamboliyski. The establishment of the company marks the beginning of the pulp and paper industry as an independent branch in Bulgaria.

Today, the plant is the biggest user of technological wood in Bulgaria, using entirely Bulgarian coniferous timber as its main raw material. It is owned by Mondi since 2006.

The last publicly available financial statement of the company is from 2015. According to it, during the year it produced 89,106 tons of craft paper. Revenues from sale amounted to BGN 115.4 million, of which BGN 63.35 million of related parties. The profit of Mondi Stamboliyski EAD for 2015 is 30.6 million leva.

(www.novinite.com)

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