Packaging maker Smurfit Kappa completes sale of its Russian assets
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Irish paper packaging manufacturer Smurfit Kappa closed a deal to sell its Russian assets to local management, transmits Press Service of the Committee for Economic Development and Investment Activities of the Leningrad Region.
“The new shareholder assured that the changes will not affect the fulfillment of obligations to employees and the operation of production facilities, and cooperation with all customers and suppliers will continue,” said Dmitry Yalov, Deputy Chairman of the Government of the Leningrad Region for Economy and Investment.
The report says that the sale also included enterprises in Vsevolozhsk and Kommunar. According to the company, at the end of April 2023 it is planned to change the name to Kappa Rus JSC.
Smurfit Kappa has four factories in Russia – three in the Leningrad region and one in Moscow, employing about 800 people, according to the company’s website. It specializes in the production of paper packaging, cardboard and recycling. The manufacturer is one of the world leaders in the production of paper-based packaging, operating in 23 countries in Europe, 13 countries in North, Central and South America.
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