Jun 13, 2008. /Lesprom.com/. The Hungarian unit of Mondi, an integrated packaging and business paper producer, is to be shut down for good, as its last potential buyer cancelled its pending order, Gabor Ferencz, Chairman of the Szolnok-based company announced. The plant, where production was halted this March, is to terminate the employment of 201 employees of its 255-strong staff as of 16 July. The financial director of the plant said the potential buyer revoked a pending order due to the unfavourable outlook on the paper industry, the uncertainties surrounding the Hungarian economy and political scene, high energy prices and the non-transparent state of the local energy market. Termination pay will be 11 months worth of average earning and those employees who have been at Mondi (or its predecessor Neusiedler) since 1995 will receive 16 months worth of their average wage as severance pay. Ferencz noted that management would try to sell the plant as an industrial park or a service and logistics centre. Mondi is an integrated packaging and business paper producer, employing 35,000 people at 127 operating sites across 35 countries worldwide, with a strong emphasis on the emerging markets of Europe, Russia and South Africa.