Huhtamaki has sold its operations in Russia to Espetina. Espetina is a holding company owned by Alexander Govor and Iury Kushnerov. The transaction includes four manufacturing units in Russia, employing 724 people. Source: Timberbiz
Huhtamaki is a global provider of sustainable packaging solutions for consumers around the world.
In April Huhtamaki announced its intention to divest its operations in Russia. This followed an earlier decision to stop all investments in Russia at the outbreak of the invasion of Ukraine.
“We consider that the current evolution of the situation and the long-term outlook in Russia will prevent the realization of our growth strategy and long-term ambitions in the country. We are pleased to bring to a close the subsequent review of our strategic options in Russia. As part of the process, we conducted extensive due diligence to find the best possible buyer and future partner for our local employees – the safety and wellbeing of whom remain important to us. We feel that Espetina will be a good and committed owner for the business and the future of our employees,” sai Charles Héaulmé, President and CEO, Huhtamaki.
Huhtamaki is a global provider of sustainable packaging solutions for consumers around the world.
