Mondi Paper Bags has acquired the paper bag converting lines from National Bag and Egypt Sack, two subsidiaries of Lafarge Cement Egypt, a major cement producer in the country.
Terms of the deal were not disclosed.
Mondi Paper Bags already operates two plants in Egypt and with this acquisition will become a key supplier of paper bags to Lafarge Cement Egypt.
"Lafarge Cement Egypt is part of leading global building material company Holcim Group who has been a key global customer of Mondi Paper Bags for years," said Claudio Fedalto, Chief Operating Officer of Mondi Paper Bags. "We are excited to have signed a long-term supply agreement with Lafarge Cement Egypt and to servicing them locally in Egypt. The collaboration will offer Lafarge access to our latest innovations, industry expertise, strong plant network and customer service."
The acquired production lines will increase Mondi's capacity by around 150-180 million bags annually and strengthen Mondi's position in the Egyptian paper bag market.
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