Newsdetails

• Reorganization of the Packaging Division for focused growth
• Separation into “General Packaging“ and “Cigarette Packaging“ segments
• Change in the management board
  

Since the initial public offering in 1994, Mayr-Melnhof Packaging has become the leading European producer of folding cartons. The Division’s sales have almost quadrupled from approximately EUR 130 million in 1993 to approximately EUR 480 million today. Profitability has been substantially increased and has met the targets set. At the same time, the annual tonnage converted rose from 95,000 to 320,000 tons. The “cigarette packaging“ segment, which was acquired in the first half of 1997, now accounts for approximately 20% of the Division’s sales.

After thorough preparation the following reorganization will be implemented in order to secure focused and dynamic future growth:

The Packaging Division will be divided into two organizational units “General Packaging“ and “Cigarette Packaging“, and both will be placed under separate management. A divisional advisory board will be created in order to implement the growth strategy, acquisition and alliance plans as well as the expansion of strategic partnerships.

In connection with this reorganization, Dr. Alfred Fogarassy, Deputy-Chairman of the Management Board of Mayr-Melnhof Karton AG and responsible for the Packaging Division will resign from his management board function on April 30, 2001 and become chairman of the divisional advisory board.

The new divisional managers will be announced in the course of the reorganization process.

For further information, please contact: Stephan Werba, Investor Relations, Mayr-Melnhof Karton AG, Brahmsplatz 6, A-1041 Vienna Tel.: (+43/1) 50136, Fax: (+43/1) 50136 - 1195 e-mail: investor.relations@mm-karton.com , Website: http://www.mayr-melnhof.com