Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market
Exited Exit Completed
Mondi plc is a multinational packaging and paper group with around 100 production sites across more than 30 countries.
Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market
Exited Exit CompletedThere is a statement from the company in May that they are ceasing work, but an article appeared in July that they are working: https://euromaidanpress.com/2022/07/19/russias-milk-sector-was-crippled-by-sanctions-then-british-packaging-company-mondi-came-to-the-rescu/?swcfpc=1 The world leader in packaging and paper production, Mondi (the UK), also continues its work in Russia. There, the company owns a complex plant for the production of pulp, packaging paper and high-quality paper, JSC "Mondi SLPK", and three processing enterprises, LLC "Mondi Aramil", LLC "Mondi Pereyaslavl", LLC "Mondi Lebedyan". In addition to its facilities, the company has more than 5,300 employees in Russia. Despite the company’s announcement to exit the market, the plants continue to operate. The sale of one of them – Mondi SLPK – to an oligarch close to the Russian government is likely to be partially subsidised by the Russian authorities to preserve vital manufacturing facilities. Mondi signed €775m deal to complete Russia exit.
Agreed to sell its largest plant in Russia to an investor Viktor Kharitonin for $1.6 billion. Mondi also has three much smaller plants in Russia that are not part of the deal. After the withdrawal of Tetra Pak from Russia, Mondi took a leading position in this market, although it initiated the sale of one factory in Syktyvkar. The other three factories owned by Mondi in Russia - Mondi Aramil LLC, Mondi Pereslavl LLC, Mondi Lebedyan LLC - continue to work and recruit new employees. Significantly increased revenue in Russia from $1.166bn in 2021 to $1.345bn in 2022. Was included in the list of international war sponsors by NACP (in November 2023 it was excluded from the list of sponsors of the war after exit from the Russian Federation). Must saMondi Plc said it terminated a 95 billion rouble ($1.17 billion) deal to sell its largest plant in Russia to an investment vehicle owned by Russian billionaire Viktor Kharitonin due to a "lack of progress" in getting approvals. Mondi has completed the sale of its three its three Russian packaging converting operations to the Gotek Group, receiving net proceeds of €30.4m. The paper packaging giant is still looking to divest its most significant facility in Russia – Mondi Syktyvkar, with the board stating it is continuing to assess all alternative divestment options. Mondi Group announced the sale of its last asset in Russia.