Mondi grows packaging business by acquiring Russian company
GLOBAL packaging and paper company Mondi has increased its footprint in Russia, announcing the acquisition of a flexible packaging business there for an undisclosed amount.The acquisition of Uralplastic would support the growth and development of the group’s consumer packaging business, Mondi CEO David Hathorn said on Monday.It would also complement Mondi’s plant in Pereslavl, near Moscow, and "(allow) us to improve our offering to customers in this growing market", Hathorn said.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 generated revenue of 1.988-billion roubles (€29.2m) from its local and international customers in 2015. Adjusted earnings before interest depreciation, and amortisation amounted to 318-million roubles, Mondi said.Mondi declined to comment on the value of the deal, as its size did not require disclosure...
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