Worlds plc has completed the acquisition of the factory Hinton Pulp in alberta, Canada from West Fraser Timber Co. Ltd (West Fraser), for a total consideration of $5 million.
The mill has the capacity to produce around 250.000 tonnes of pulp per year and will provide the Group with access to high quality local fibre, sourced from a well-established timber supply as part of a long-term partnership with West Fraser.
Mondi intends to invest in the factory to improve productivity and sustainability performance and, subject to prior engineering and permits, invest in expanding the facility primarily with a new kraft paper machine, which will integrate its paper bag operations into the Americas to support future growth.
Commenting on the acquisition, Andrew King, CEO of the Mondi Group, said: “We are delighted to welcome our new colleagues from the Hinton Pulp factory to Mondi and look forward to working together to secure the future of the factory and support Mondi's growth in North America with our sustainable packaging portfolio.
