Reducing Activities: company scaling back some business operations while continuing others

Wait Scaling Back

Mondi plc is a multinational packaging and paper group with around 100 production sites across more than 30 countries.

Reducing Activities: company scaling back some business operations while continuing others

Wait Scaling Back

Top 100 largest companies in Russia by revenue

Top 100
Revenue(RF), mln.USD
1126
Plants
4
Staff
5228
Capital, mln.USD
1016
Taxes, mln.USD
215
Glob.Revenue, mln.USD
8165
Assets, mln.USD
1038

There 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.

The Company Statement
December 15, 2022

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.

October 28, 2022UK firm comes to rescue of Russia's dairy industry
October 14, 2022Mondi upbeat over prospects despite imminent sale of Russian assets
August 12, 2022Packaging firm Mondi to sell its largest Russian plant for $1.6 bln
July 19, 2022Russia’s milk sector was crippled by sanctions. Then British packaging company Mondi came to the rescue
May 04, 2022Update on trading and Russian businesses
March 04, 2022UK packaging firm Mondi to sell Russian assets
Mondi Group - International sponsor of war
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