Middle East Paper Company

What Middle East Paper Company does

Middle East Paper Company (MEPCO) is a Saudi Arabia-based, publicly listed (Tadawul: 1202, since May 2015) vertically integrated paper manufacturer headquartered in Jeddah. The company produces containerboard (test liner, fluting, coreboard), industrial paperboard, and — through its wholly-owned subsidiary Juthor Paper Manufacturing — tissue paper products. Its integrated subsidiary ecosystem also includes WASCO, a waste-collection and recycling operator with 26 collection centers that supplies approximately 90% of MEPCO's raw material needs, and Estidama for Environmental Services. Finished products are FSC Recycled-certified across multiple SKUs (MEPLINER, MEPFLUTE, MEPCORE, MEPKRAFT, MEPCHEM, MEPDUAL) and serve packaging manufacturers across GCC, broader MENA, South Asia, the Americas, and Europe, with exports to over 40 countries. Public Investment Fund (PIF) holds a 23.08% strategic stake acquired in January 2024 for approximately $168 million.

Name

Middle East Paper Company

Legal name

Middle East Paper Company

Website

https://mep.co

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Middle East Paper Company (MEPCO) is a Saudi Arabia-based, publicly listed vertically integrated paper manufacturer producing containerboard, paperboard, and tissue products through subsidiaries WASCO, Juthor, and Estidama, exporting to over 40 countries across GCC, MENA, South Asia, Americas, and Europe.

Ownership category

akta.pro rank

Product category

Paper and Containerboard Manufacturing

NAICS

Paperboard Mills (32213), Pulp, Paper, and Paperboard Mills (3221), Paperboard Mills (322130)

SIC

Paperboard Mills (2631), Paper Mills (2621)

akta.pro primary industry

Recycled Containerboard (Testliner) Manufacturing (IMAMAFAB)

akta.pro secondary industry

Recycled Paperboard & Containerboard (IMAMAKAG)

Keywords

• Containerboard manufacturing
• Paperboard products
• Waste paper recycling
• Tissue paper production
• FSC certified paper

Headquarters

HQ city

Jeddah

HQ country

Saudi Arabia

HQ region

Middle East

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Containerboard Production: Production and sale of containerboard products including High Performance Fluting, Test Liner, and Coreboard. Current capacity 500,000 tons, expanding to 1 million tons with PM5.
2. Paperboard Products: Industrial paper and paperboard products for packaging industries sold across domestic and international markets.
3. Tissue Products (via Juthor subsidiary): Tissue paper manufacturing through Juthor subsidiary with 60,000-120,000 tons annual capacity, expanding with TM6 production line.
4. Recycling Services (via WASCO): Waste paper collection and recycling services through WASCO subsidiary, processing over 500,000 tons annually.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Middle East Paper Company (MEPCO) is a vertically integrated paper manufacturer based in Jeddah, Saudi Arabia, producing containerboard (test liner, fluting, coreboard) and paperboard products from recycled fiber. Through its wholly-owned subsidiaries WASCO (waste collection/recycling), Juthor (tissue manufacturing), and Estidama (environmental services), MEPCO operates one of the largest paper mills in the MENA region with current containerboard capacity of 500,000 tons per year, expanding to 1 million tons with the PM5 line.

Product overview

MEPCO operates as an integrated paper manufacturing company producing Containerboard and Paperboard products, with subsidiaries Juthor (tissue products), WASCO (waste collection/recycling), and Estidama (environmental services). The company offers FSC-certified recycled paper products including MEPLINER, MEPFLUTE, MEPCORE, MEPKRAFT, MEPCHEM, and MEPDUAL. Major expansion projects include PM5 (containerboard production line) and TM6 (Juthor tissue production line). The company is currently constructing PM5 to double containerboard capacity to 875,000 tons annually.

Differentiator

Problem solved

Functional benefit

Products and services

• Containerboard Primary product line including test liner, fluting, and coreboard grades used for packaging applications, serving packaging manufacturers across GCC, Middle East, Africa, South Asia, Americas, and Europe.
• Paperboard Industrial paper products for various packaging and manufacturing applications across domestic and international markets.
• FSC Recycled Products (MEPKRAFT, MEPCHEM, MEPDUAL, MEPLINER, MEPFLUTE, MEPCORE) FSC-certified recycled containerboard products including Test Liner, High Performance Fluting, and Coreboard for sustainable packaging applications.
• Juthor Tissue Products

Quantifiable outcome

• 700% sales growth over 15 years
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

13 partnerships are on record, tiered core, flagship and minor.

• Andritz AGcoreTechnology or Integration · 10 November 2024Contract for manufacture, supply, and installation of sixth tissue production line (TM6) with 60,000 ton annual capacity and 2,100 meters/minute speed. 24-month agreement. Contract value represents no more than 25% of MEPCO's total revenue.
• G.M. Voith SE & Co. KZcoreTechnology or Integration · 22 April 2024Contract signed for manufacture and supply of fifth production line (PM5) for cardboard production with 450,000 ton annual capacity. Voith responsible for manufacturing, supply, and supervision of installation of the machine operating at 1,600 meters/minute.
• ToscoteccoreTechnology or Integration · 24 February 2021Toscotec to supply tissue machine for MEPCO's new tissue mill in King Abdullah Economic City (KAEC).
• Al Khumrah Wastewater Treatment PlantcoreStrategic or Co-development PartnerPartnership for treating and reusing wastewater from paper plant. Treated water returned for industrial use, enabling water efficiency and environmental sustainability.
• Saudi Electricity GridcoreTechnology or IntegrationElectrification project increasing imported power capacity by more than 70% from Saudi Electricity grid, supporting decarbonization strategy.
• Saudi Green InitiativeflagshipStrategic or Co-development PartnerMEPCO's sustainability initiatives aligned with Saudi Green Initiative and Vision 2030 for environmental transformation.
• National Industrial Development and Logistics Program (NIDLP)coreStrategic or Co-development PartnerMEPCO supports Alf Meel Entrepreneurship Program under NIDLP, aligned with Vision 2030 goals for industrial development and entrepreneurship.
• Ministry of Industry and Mineral ResourcesflagshipStrategic or Co-development PartnerStrategic partnership to boost competitiveness in paper and packaging sector. Visit from H.E. Dr. Ahmed Al-Zawawi to discuss industry development and Industrial Lighthouse Program support.
• Creative Recycling World FactorycoreStrategic or Co-development PartnerCooperation agreement under MWAN supervision to supply approximately 600 tons of PET plastic materials per month to Bareeq Factory, supporting circular economy and plastic recycling value chain.
• MODON (Saudi Authority for Industrial Cities and Technology Zones)coreStrategic or Co-development PartnerMODON representatives attended TM6 groundbreaking ceremony. Support for industrial development and technology zones.
• Higher Institute for Paper and Industrial TechnologiescoreStrategic or Co-development PartnerMEPCO commitment to empowering national talent through technical education institution focusing on advanced technical skills aligned with Vision 2030 human capital strategy.
• Ernst and YoungminorImplementation/ SI/ Consulting PartnerCorporate governance project partnership resulting in establishment of Corporate Governance Framework documents and recommendations.
• SAPcoreTechnology or IntegrationSAP deployment for digital transformation initiative to further sustainability goals across MEPCO Group operations.

Scale indicators10 records

Recent moves10 records

Expansion highlights7 records

Direct peers

• Mondi Group: Mondi is a London-listed global paper and packaging group producing containerboard, kraft paper, and corrugated packaging. Directly comparable to MEPCO on core containerboard product (test liner, fluting) and recycled-fiber strategy, and serves as a benchmark for vertical integration from recovered fiber to finished packaging.
• Graphic Packaging Holding Company: Graphic Packaging is a leading US producer of paperboard packaging, particularly solid bleached sulfate and recycled folding cartons. Comparable on paperboard/paperboard-packaging product category and on serving consumer-goods converters, though skews more toward coated paperboard versus MEPCO's containerboard mix.
• Mayr-Melnhof Karton: Mayr-Melnhof is Europe's leading manufacturer of coated recycled folding boxboard and folding cartons. Directly comparable on recycled-fiber paperboard production technology and on serving downstream packaging converters; relevant peer for MEPCO's paperboard product line.
• Smurfit Westrock: Formed in 2024 from Smurfit Kappa + WestRock, the world's largest containerboard and corrugated packaging producer. Directly comparable on containerboard grades, integrated mill operations, and global distribution reach; represents the scale benchmark against which MEPCO's MENA-focused expansion is positioned.
• Packaging Corporation of America (PCA): PCA is a US pure-play containerboard and corrugated products producer with significant recycled-fiber capacity. Closely comparable business model to MEPCO — integrated mills producing linerboard and medium for downstream packaging — and a useful benchmark for recycled-containerboard unit economics.

Broad incumbents

• Stora Enso: Stora Enso is a Finnish-Swedish integrated paper, packaging, and biomaterials group producing containerboard, packaging boards, and market pulp. Comparable on recycled-paperboard and sustainable packaging strategy, but with broader European geographic scope and a diversified biomaterials business.
• International Paper: International Paper is one of the world's largest containerboard and packaging producers with a substantial recycled-fiber footprint. Provides direct product and business-model comparability for MEPCO, but operates at vastly greater scale and global scope, serving as the incumbent industry benchmark.
• Nine Dragons Paper: Nine Dragons is the largest containerboard producer in Asia with multi-million-ton capacity across kraft and recycled grades. Comparable on core product mix and recycled-fiber sourcing, though significantly larger and globally diversified versus MEPCO's MENA-focused footprint.

Emerging players

• Cascades Inc. Cascades is a Canadian manufacturer specializing in recycled-based tissue, containerboard, and specialty products. Strong comparability on recycled-fiber sourcing strategy and ESG positioning; though smaller and North-America-focused, it mirrors MEPCO's mid-tier integrated mill profile and WASCO-style collection orientation.
• Lee & Man Paper Manufacturing: Lee & Man is a major Chinese containerboard and kraft paper producer with rapid capacity growth. Comparable product mix (containerboard from recycled fiber) and growth trajectory via aggressive capacity expansion; useful comparator for MEPCO's PM5-driven doubling strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks3 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/MepcoPaper
• LinkedInlinkedin.com/company/middle-east-paper-co-

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Middle East Paper Company