Parent company Anglo America, which provides financing services to the mining industry, has revealed that it will demerge the business during the middle of 2007.
David Hathorn, Mondi chief executive, said: “The demerger represents a big step forward for Mondi.
“Being part of Anglo America has served us well, but today our two businesses operate in different market sectors.
“We believe becoming an independently, publicly-quoted business will give us more flexibility to take Mondi forward.”
Mondi will be listed in London and Johannesburg.
It currently has 35,000 staff across 35 countries.
MONDI FACTFILE
Staff 35,000
Locations 35 countries
Turnover £3.9bn (€5.75bn)
Products Rotatrim, Colour Copy, corrugated and bag
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"This is a repeat of what happened to 1066 Capital t/a Crystal a year ago. They also never put this company in administration.
We are all still left unable to claim the redundancy and notice pay owed..."
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