Page 176 - RusRPTJan23

is logical, amid shutdown of some other markets – domestic sales of paper surged to 66% of total paper sales, while 66% of plywood also went to local market.
The UK-based paper and packaging producer Mondi plans to sell its Russian business to group of companies Gotek for RUB1.6bn , Mondi said in a statement on December 16. “Mondi plc confirms that it has entered into an agreement to sell its three Russian packaging converting operations to the Gotek Group for a consideration of 1.6bn (around 24mn British pounds at current exchange rate), payable in cash on completion,” it said. “The three packaging converting operations comprise a corrugated solutions plant and two consumer flexibles plants, producing a range of packaging solutions for the domestic Russian market. The loss on the disposal is expected to be in the range of 70-80mn euros at current exchange rate.”
176 RUSSIA Country Report January 2023 www.intellinews.com