International paper and packaging group Mondi has reported a third quarter 2011 underlying operating profit of €136m, compared to €175m in the second quarter this year

Mondi attributed the fall to the company’s third quarter maintenance shuts, softer trading environment and the impact of destocking which cost the packaging maker nearly €20m.

The comapny also announced that the industrial bags facility in Aberdeen, UK, is expected to be closed, with associated impairment and restructuring costs of about €5m as part of the continued optimisation of the group’s production base.

On 3 October, the group already disposed of its Unterland flexible packaging business to Sun European Partners at a loss of €4m.

Additionally, the company is set to restructure the coatings and consumer packaging business during the fourth quarter resulting in costs of about €6m.

 

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Packaging Gateway Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Packaging Gateway Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now