11th Jul 2016 08:09
LONDON (Alliance News) - Anglo-South African paper and packaging company Mondi PLC on Monday said it has struck a deal to buy Russia's ZAO Uralplastic-N.
Mondi will buy the company, which makes consumer flexible packaging products for food,
hygiene, homecare and other applications, for an undisclosed amount from Russian investment group JSC Rusnano and a private investor.
Uralplastic-N operates one plant near Ekaterinburg, in the Urals region of Russia. In 2015, it made adjusted earnings before interest, taxation, depreciation and amortisation of EUR4.7 million, on revenue of EUR29.2 million.
"The acquisition of Uralplastic supports the development of our consumer packaging business and strengthens our presence in the Russian consumer packaging market, complementing our existing plant in Pereslavl, near Moscow and allowing us to improve our offering to customers in this growing market," said Mondi Chief Executive David Hathorn.
Mondi shares were up 1.3% Monday to 1,389.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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