Russian president Vladimir Putin has signed a decree “On the mandatory sale of revenue in foreign currency received by certain Russian exporters under foreign trade agreements (contracts),” according to a government statement. According to the decree, a specific list of exporters, including 43 groups of companies from various industries such as the fuel and energy […]
Tag Archives: Russian assets
News
Crisis looms over Russian pulp and paper industry amidst sanctions and plummeting Chinese demand
01
Aug
Aug
The Russian pulp and paper industry is facing an acute crisis in product sales. The main reasons for this difficult situation are sanctions and a severe lack of demand in the Chinese market, exacerbated by exorbitant export logistics costs. Pulp and paper mills, have been forced to cut down production volumes. In the first half […]
07
Jul
Jul
Following the announcement on 15 December 2022 of the agreement to sell its three Russian packaging converting operations to the Gotek Group for a total consideration of RUB 1.6bn, Mondi plc (“Mondi”) confirms that Gotek Group received all requisite approvals and the sale has now completed. Mondi has received net proceeds of €30.4m from this […]
05
Feb
Feb
In 2022, the production of particleboard and OSB in Russia decreased by 10.5%, to 10.3 million m3, and this of fibreboard and MDF declined by 12.1%, to 649 million m3. Plywood output fell by 28.8% to 3.24 million m3. The reason for the decline in the production of wood-based panels was the closure of the […]
21
Dec
Dec
The Russian authorities have not approved the sale of Mondi’s Syktyvkar mill in the Komi Republic, Russia. A possible reason is too high a transaction price. The Syktyvkar assets were planned to be sold to Augment Investments Limited for RUB 95 billion (Euro 1.5 billion). Augment is an investment vehicle majority owned by Viktor Kharitonin, comprising […]
02
Dec
Dec
India may consider the increase the supplies of raw materials for the needs of Russian paper and consumer packaging industries, as Russia experiences a serious shortage of such products due to Western sanctions. According to some Russian and foreign media reports, representatives of Russian authorities have called the Indian government to begin the supplies of […]
08
Oct
Oct
Sylvamo announced it reached an agreement and completed the sale of its Russian operations to Pulp Invest Limited Liability Company for $420 million. After foreign currency exchange rates and transaction fees, Sylvamo received approximately $390 million in cash proceeds. “We made a principle-based decision to exit Russia and believe Pulp Invest is the best option […]
22
Aug
Aug
Potential sale UK- and Austria-based Mondi has announced it has entered into an agreement to sell its Russia-based facility, Mondi Syktyvkar, along with two affiliated entities to Augment Investments Ltd for some RUB 95 billion (€1.5 billion). “The Disposal is conditional on the approval of the Russian Federation’s Government Sub-Commission for the Control of Foreign […]