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delfortgroup AG acquires Mundet

January 21, 2016

 Austrian paper company expands in the US market

 delfortgroup AG has agreed to acquire all of the outstanding shares of the MUNDET group. Mundet has manufacturing sites in Virginia and Tennessee in the United States and Toluca, Mexico. The acquisition is subject to regulatory approval and is expected to close in the first quarter of 2016.

 With the acquisition of Mundet, delfortgroup enhances its presence in the US market and will be able to offer its customers an improved supply chain and opportunities for business solutions. delfortgroup will complement its existing product portfolio in the areas of flexible packaging and the cigarette industry. delfortgroup is a committed partner to the worldwide cigarette industry, and with this acquisition it will be able to enhance its service and innovation capability to the US domestic tobacco industry.

 delfortgroup has positioned itself as a leading innovator and manufacturer of resource saving and environmentally friendly paper products and solutions. The addition of these three manufacturing locations in the US and Mexican markets expands opportunities for supplying this portfolio to its customer base.

 With this acquisition the three Mundet locations will now be able to offer the latest delfortgroup technologies in a cost efficient and environmentally friendly manner as part of a global distribution network. delfortgroup will invest in each of the Mundet locations to enlarge capacity, R&D and new technologies to offer customers a more comprehensive product range, service and industry standard quality systems.

 With 2,000 employees in six plants in Austria, Hungary, Czech Republic, Finland, and Vietnam, delfortgroup develops, manufactures, and distributes high-performance specialty papers for the tobacco, pharmaceutical, and food industries. The group, headquartered in Austria, also manufactures packaging paper for fast food, thin papers for leaflets, bible and catalog printing and publications, label base paper, graphic papers and papers for electrical applications. delfortgroup will achieve a consolidated turnover of EUR 700 million in 2015. The family owned group ranks among the market leaders in various areas of the specialty paper market.

 By acquiring the Mundet group, sales will be increased by USD 80 million and the number of employees by 290. Both parties have agreed to maintain secrecy regarding further details of the contract.

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