HUNGARY/AUSTRIA: DUROPACK EXPANDS

Article Abstract:

Austrian Vienna-based packaging producer Duropack AG is to set up a third production plant in Hungary. The corrugated board and carton factory in Fuzesabony with an area of 13,000 sq.m involves an investment of Sch 150mn. Regular operation is to start at the beginning of year 2001. Initially 120 staff should produce up to 45mn sq.m of corrugated board. The new plant will serve the Romanian and Ukrainian markets. In addition, Duropack is eyeing the Bosnian, Bulgarian, Byelorussian, Polish and Serbian markets. Duropack, in which Nettingsdorfer holds a stake, doubled profit on ordinary activities to Sch 74mn in 1999, while turnover declined slightly to Sch 2.368bn. The improvement is attributed to the divestment of less lucrative operations and an increase of productivity. Since 1996 the company has cut staff by 265 to 1,570.

Foreign operations, Capital expenditures, Hungary, Duropack AG, Duropack Holding AG

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AUSTRIA: ANOTHER PRICE HIKE BY MAYR-MELNHOF

Article Abstract:

The Austrian board and packaging maker Mayr-Melnhof, the European market leader in board and folding boxes, has announced another price increase of 15% for 1 July 2000 in order to make up for some of the steep increase in raw material prices, while another part is absorbed by cost-cutting measures. The company expects raw material prices to stabilise in year 2000. The company's order books are full. The orders for board have reached a record high of 130,000 tonnes. Mayr-Melnhof is to make a big acquisition in year 2000, probably in the board segment. Mayr-Melnhof is setting hopes on electronic commerce, which will boost demand for dispatch packaging. In 1999 Mayr-Melnhof saw a 0.7% increase in turnover to EUR 911.3mn. Operating profit fell 1.4% to EUR 86.1mn, profit on ordinary activities rose 0.5% to EUR 81.4mn, and profit for the year declined 3% to EUR 61.4mn.

Sales, profits & dividends

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AUSTRIA: MM ACTS TO SUPPORT SHARE PRICE

Article Abstract:

Mayr-Melnhof is to buy back up to 12mn ordinary shares (up to 10% of the company's stock) between 19 March and 24 November 2001 in order to support the price of the share.

Mayr-Melnhof Karton GmbH

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