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 31 May 2015, Ascania generated unaudited revenues of Euro 53 million and EBITDA of Euro 9.5 million.
Commenting on the acquisition, David Hathorn, Chief Executive of Mondi Group, said: “This acquisition supports the development of our Consumer Packaging business. It will strengthen Mondi’s position as the preferred supplier of hygiene components such as elastic laminates for diapers and enable further growth with innovative products for baby diapers, adult incontinence, femcare and medical applications.”
The transaction remains subject to competition clearance and is expected to complete by the 4Q 2015.
Mondi is an international packaging and paper Group. Its key operations are located in central Europe, Russia, North America and South Africa.
