It has been reported that the Russian wood, paper and sack kraft manufacturer, Segezha Group, is considering selling its European sites or creating local joint ventures as it looks to stabilise its business portfolio.
In a statement to the press, Mikhail Shamolin, President, Segezha Group, said the company has already received three offers from potential buyers, but a decision has not yet been made. He also explained that the company is considering forming minority stake joint ventures for its packaging operations.
Shamolin stated that the company is also looking at the possibility of establishing paper packaging production facilities in other countries, such as Turkey, Egypt, South Africa, Malaysia, Vietnam, China and Mexico.
Segezha Packaging has seven paper packaging plants located in Germany, Denmark, the Netherlands, Italy, the Czech Republic, Turkey and Romania. The total production capacity of these facilities is 769 million bags per year.