11.03.15
Mondi Group has completed the previously announced acquisition of 100% of the outstanding share capital of Ascania Nonwoven Germany GmbH from Schloss Neugattersleben Group, a private equity investment group.
Ascania is a producer of nonwoven fabrics and nonwoven composites used as components in personal care products. The business operates from one site based in Aschersleben, Germany. Ascania is a key supplier of nonwovens for diaper elastic laminates to Mondi. The business employs around 150 people and will be integrated into Mondi’s Consumer Packaging Business Unit. For the twelve months ended May 31, 2015, Ascania generated unaudited revenues of €53 million.
“We are looking forward to working with our new colleagues at Mondi Ascania. We will have much to learn from each other and our aim is to continue providing the high level of service our customers expect,” says Marita Paasch, COO of Advanced Materials which is part of Mondi’s Business Unit Consumer Packaging.
Ascania is a producer of nonwoven fabrics and nonwoven composites used as components in personal care products. The business operates from one site based in Aschersleben, Germany. Ascania is a key supplier of nonwovens for diaper elastic laminates to Mondi. The business employs around 150 people and will be integrated into Mondi’s Consumer Packaging Business Unit. For the twelve months ended May 31, 2015, Ascania generated unaudited revenues of €53 million.
“We are looking forward to working with our new colleagues at Mondi Ascania. We will have much to learn from each other and our aim is to continue providing the high level of service our customers expect,” says Marita Paasch, COO of Advanced Materials which is part of Mondi’s Business Unit Consumer Packaging.