Packaging and paper company Mondi will acquire Russian flexible packaging products manufacturer ZAO Uralplastic from joint stock company Rusnano and a private investor for an undisclosed amount.
“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 on Monday.
Uralplastic, which operates a plant near Ekaterinburg, in the Ural region of Russia, manufactures a range of consumer flexible packaging products for food, hygiene, homecare and other applications.
The Russian company earned revenues of €29.2-million in 2015.