Mondi to buy Russian packaging company
bdlive.co.za - Jul 11th 2016, 11:23
MONDI is acquiring Russian flexible packaging maker Uralplastic for an undisclosed amount.
Uralplastic generated revenue of 1.988-million roubles (€29.2m) and adjusted earnings before interest depreciation and amortisation of 318-million roubles (€4.7m), Mondi said in a statement on Monday.
"The acquisition of Uralplastic supports the development of our consumer packaging business and strengthens our presence in the Russian consumer packaging market, complementing our existing plant in Pereslavl, near Moscow, and allowing us to improve our offering to customers in this growing market," Mondi CEO David Hathorn said in the statement.
Uralplastic operates one plant near Ekaterinburg, in the Ural region of Russia and manufactures a range of consumer flexible packaging products for food, hygiene, home care and other applications. The company served local and international customers, the statement said.
Mondi is acquiring 100% of Uralplastic from Joint Stock Company Rusnano and a private investor. The transaction is expected to complete in July 2016.From DFM Publishers (Pty) Ltd
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