Austria-based global producers of paperboard and folding boxes, Mayr-Melnhof Group (MM), has sold its two packaging sites in Russia to the local investor Granelle following approval from the authorities.
The sales price of its St. Petersburg and Pskov sites is around €134 million. In 2021, the two plants generated a combined sales of around €124 million. The transaction is expected to have a neutral impact on Mayr-Melnhof Group’s earnings.
In 2021, around 9% of the Group’s cumulative EBITDA was generated in Russia and Ukraine. The Group continues to maintain a site in Ukraine producing packaging products for daily consumer goods.
