By Michael Susin

Mondi PLC said Friday that it has completed the disposal of its Personal Care Components business to Nitto Denko Corp. for 615 million euros ($644.8 million) ahead of schedule.

The paper-and-packaging group said that the sale of part of the Engineered Materials unit aims to simplify its portfolio.

The remaining part of Engineered Materials will become part of the Flexible Packaging business unit, it added.

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

July 01, 2022 02:31 ET (06:31 GMT)

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