Anglo American Offspring Mondi Is Now Double Miner's Size: Chartby and
While Anglo American Plc is battling to weather a collapse in commodity prices, the packaging and paper company it spun off eight years ago is going from strength to strength.
Mondi Ltd. has a market value of 6 billion pounds ($8.6 billion), while Anglo is at 3 billion pounds in London. In Johannesburg, the manufacturer is at 114 billion rand, while the mining company is at 72 billion rand. Mondi’s market value has surged more than fourfold in Johannesburg since it was spun out of Anglo in July 2007. The gains are largely linked to the company’s reinvention of itself as a packaging producer after the demand outlook for its traditional paper business dimmed. Anglo shares fell 75 percent in London last year and the miner will cut its dividend while selling more than half of its assets.