Finnish and American paper packaging manufacturers eye acquisition of EU factories of Russian Segezha Group

By Eugene Gerden
Pulp and Paper News
December 14, 2022
Category: Business & Politics
Region: United States, International

A number of Finnish and American paper packaging manufacturers are interested in the acquisition of European assets of the Russian timber and paper holding Segezha Group. That has been recently confirmed by company’s president Mikhail Shamolin… [and] several offers have already been received. …The European subsidiary of the Segezha Packaging holding unites seven paper packaging plants in Germany, Denmark, the Netherlands, Italy, the Czech Republic, Turkey and Romania. …Now the European plants… are experiencing problems both with obtaining raw materials and with the sale of products. “Clients do not want to work with companies that have Russian roots,” he explained. Therefore the establishment of joint ventures based on Segezha Packaging with a minority share of the Russian company is being considered. In addition, the creation of new capacities for the production of paper packaging, including in Turkey and Egypt, is being worked out, he explained

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