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 BackThere 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.
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.