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

inside_segezha_group_ photo_provided_by_the_company

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.


According to the top manager, several offers have already been received from potential buyers and the holding is considering them.



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. The total capacity of these enterprises is 769 million paper bags per year. The enterprises became part of the Segezha Group in 2014.


Now the European plants of the company, according to Shamolin, continue to work, but 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, as an alternative, according to the top manager, the establishment of joint ventures (JV) 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 "in other regions of the world", including in Turkey and Egypt, is being worked out, he explained.