Grupo Gondi, WestRock Announce Mexico JV

Grupo Gondi and WestRock WRK have agreed to combine their operations in Mexico to form a joint venture, creating a leading paper and packaging company in the country. Grupo Gondi currently operates ten production sites that hold six paper machines, seven corrugated packaging plants and four modern high graphic folding carton plants with pre-printing capacity. WestRock, one of the world's leading companies in the paper and packaging industry, operates three facilities in Mexico that produce corrugated packaging. WestRock will contribute these facilities, located in Mexicali, Monterrey and Querétaro, and cash to the joint venture in exchange for a 25 percent equity participation in the combined entity, which will operate as Grupo Gondi. As the majority shareholder, the Grupo Gondi senior management team, led by Eduardo Posada, will manage the joint venture, and WestRock will provide technical and commercial resources to the combination. The business will employ 6,800 people. "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," said Eduardo Posada, chief executive officer, Grupo Gondi. "We have a demonstrated ability to provide See full press release