Walki Group has signed an agreement to acquire Belgian extrusion coating company Mondi Belcoat for an undisclosed sum.
Image: Walki Group has agreed to acquire Belgian firm Mondi Belcoat. Photo: courtesy of Tumisu from Pixabay.
Belcoat, a Mondi Group company, is involved in the production of specialised extrusion coated products for customers in the protective clothing, imaging, automotive and other speciality products markets.
With more than 100 employees, Belcoat operates a manufacturing facility in Duffel, Belgium. The company generated a turnover of €37m (£33.2m) in 2018.
Subject to competition clearance and other customary closing conditions, the deal is expected to be completed in the second half of this year.
Walki Group president and CEO Leif Frilund said: “This acquisition is in line with our strategy to expand our customer base and to strengthen our position in highly specialized engineered materials.”
Walki Group is a major manufacturer of technical laminates and protective packaging materials.
The company has expertise in the production of fibre-based and intelligent multi-laminate products for markets as diverse as energy-saving facings and construction membranes to barrier packaging applications.
With around 950 employees, the firm operates production facilities in Finland, Germany, the Netherlands, Poland, the UK, Russia, and China. The annual turnover of Walki was €317m (£285m) in 2018.
In May this year, Walki Group agreed to acquire Finnish sustainable packaging material producer Plastiroll for an undisclosed sum.
Established in 1983, Plastiroll is involved in the development and manufacturing of biodegradable and compostable materials for packaging applications.
Mondi provides a range of innovative and sustainable packaging and paper solutions to its customers. It reported revenues of €7.48bn (£6.72bn) and underlying EBITDA of €1.76bn (£1.58bn) in 2018.
The company is fully integrated across the packaging and paper value chain ranging from managing forests and producing pulp, paper and plastic films to developing and manufacturing effective industrial and consumer packaging solutions.
In June 2108, Mondi acquired Egypt-based National Company for Paper Products and Import & Export (NPP) for around €24m (£21.5m).
NPP, which is a privately-owned industrial bags producer, operates one facility in Giza near Cairo. The company supplies the majority of its bags to the regional customers in the country.