Newsdetails
Mayr-Melnhof acquires folding carton plant in St. Petersburg, Russia
- Investment program for further expansion decided
- Mayr-Melnhof has purchased a 100% interest in ZAO Polygraph Center, St. Petersburg from Finnish and Russian owners.
Production currently runs on a single printing line including a fully equipped pre-print stage and hot foil stamping. The production site has efficient infrastructure, well trained staff and therefore has high potential for further expansion in the short-term. Annualized sales are planned to rise significantly over 2005 and 2006 to approximately EUR 10 million.
Within an investment program of EUR 8-10 million, Mayr-Melnhof will increase converting capacities by installing more printing lines. The objective is to swiftly penetrate the Russian market, focussing on the production for the sharply increasing folding carton requirements of international consumer goods producers in all segments, including cigarette packaging.
The purchase price will not be disclosed. The transaction will be finalized after approval of the relevant anti-trust authorities.
