Walki Group announces today that it has completed the acquisition of 100 % of the shares of Mondi Belcoat NV, a Belgian extrusion coating company of Mondi Group.
The acquisition of Belcoat adds manufacturing capacity and value-added service capability to Walki's existing manufacturing footprint in Central Europe. Belcoat produces highly specialised extrusion coated products serving customers across protective clothing, imaging, automotive and other speciality products markets. The company is operating a manufacturing facility in Duffel, Belgium and employs just over 100 people. In 2018, Belcoat was generating a turnover of 37 million euros. Financial terms of the transaction have not been disclosed.
“This acquisition is in line with our strategy to expand our customer base and to strengthen our position in highly specialized engineered materials. Further, I would like to welcome all at Belcoat to Walki and wish them every success.", says Leif Frilund, President and CEO of Walki.
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