Anglo American plc to demerge Mondi in mid 2007

International paper and packaging group Mondi is set to become an independent, publicly-quoted business. This follows an announcement from its parent company, Anglo American plc, that it will demerge the business in mid 2007.

Anglo American confirmed that it will press ahead with plans to demerge Mondi during the middle of this year in order to concentrate on its core mining interests. The process will result in Mondi becoming a dual-listed business with listings in both London and Johannesburg.

David Hathorn, CEO Mondi Group, commented: ‘The demerger represents a big step forward for Mondi. Being part of Anglo American has served us well, but today our two businesses operate in different market sectors. We believe becoming an independent, publicly-quoted business will create new opportunities and give us more flexibility to take Mondi forward.’ 

It has today been announced that Sir John Parker and Cyril Ramaphosa will become Mondi’s new non-executive joint chairmen. They will be supported by other non-executive directors who will be announced in due course.

Mondi is currently one of the leading players in the paper and packaging sector with 35,000 employees in 35 countries.