Divestment of Personal Care Components business to Nitto Denko Corporation
On February 17, 2022, Mondi plc announced that it was planning on selling the company's Personal Care Components (PCC) business to Nitto Denko Corporation, an electronics and mobilities manufacturing company. The deal is currently in the negotiating phase with plans set to be completed by the end of 2022. The decision to sell the PCC division is set to assist Mondi with simplifying its product portfolio and allow the company to focus on its main operations of paper production and sustainable packaging.
ESGIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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