Group Gondi and WestRock recently agreed to forming a joint venture in Mexico, combining their paper and packaging operations in the country.
"Grupo Gondi is finally fulfilling its dream to joint venture with a partner like WestRock and continue to strengthen its position of being the best packaging option in the market. We are very excited about the possibilities of growing the business together," Alejandro González Cimadevilla, Grupo Gondi's president and chairman of the board, said.
Grupo Gondi operates 10 production sites with six paper machines, seven corrugated packaging plants and four modern high graphic folding carton plants with pre-printing capacity. WestRock operates three facilities in Mexico that produce corrugated packaging.
WestRock will provide its facilities and cash to the joint venture in exchange for a 25 percent equity participation in the combined entity.
"This joint venture expands Grupo Gondi's ability to serve our customers across Mexico, with state-of-the-art technology and enhanced capabilities in packaging options in paper, corrugated, folding cartons and preprint," Eduardo Posada, CEO of Grupo Gondi, said. "We have a demonstrated ability to provide outstanding service and innovation for our customers, and this joint venture enables us to continue to grow and expand our national presence."
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