VIENNA (From news reports) -- Mondi PLC said that it will sell its personal-care components business to Nitto Denko Corp. for 615 million euros ($699.5 million) as it focuses on expanding its business in packaging.

The paper-and-packaging group said the business generated underlying earnings before interest, taxes, depreciation and amortization of EUR42 million in 2020, but has limited overlap with its strategic focus.