Pulp and paper company Mondi has entered into an agreement to sell its
three Russian packaging converting operations to Russian packaging producer Gotek Group for about €24-million, payable in cash.
The three packaging converting operations comprise a corrugated solutions plant and two consumer flexibles plants, producing a range of packaging solutions for the domestic Russian market.
The loss on the disposal is expected to be in the range of €70-million to €80-million.