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.


How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.