Packaging firm Mondi Group has announced it is to acquire 100% of the outstanding share capital of ZAO Uralplastic-N, a Russian-based consumer packaging firm.
Uralplastic operates one plant near Ekaterinburg, in the Ural region of Russia and manufactures a range of consumer flexible packaging products for food, hygiene, homecare and other applications.
In the year to 31 December 2015, Uralplastic generated revenues of RUB1,988 million (€29.2 million).
“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," said David Hathorn, chief executive of Mondi Group.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
