STETI, Czech Republic (News release) -- Mondi has decided to postpone its €135 million investment in a new 90,000 tonne per annum machine glazed speciality kraft paper machine at its Steti mill in the Czech Republic.

Commenting on the decision, Peter Oswald, Mondi CEO, said, "We have decided to postpone the machine glazed speciality kraft paper machine investment after a careful review of market conditions. While the proposed new machine remains an exciting investment opportunity, offering the lowest cost production of its sort in Europe, recently announced industry capacity expansions are expected to result in a market imbalance over the period in which the new machine was planned to come on line.

There is no change to our €335 million investment in modernising the mill including rebuilding the fibre lines, de-bottlenecking the existing packaging paper machines and a new recovery boiler, which is progressing as planned."

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