Stopping the deal for JSC Mondi Syktyvkar, agreement to sell three other Russian corrugated cardboard and flexible packaging plants to Gotek Group, and the development of an innovative all-paper cooler bag
There are two versions why the €1.5 billion deal is stuck (use the web translator). The first: Russian federal monopoly service considered the amount too high; the second: the RF government commission for the control of foreign investments did not give approval, possibly due to the inconsistency of the transaction with the approaches to the sale of international companies’ assets as part of termination of their operation (Russian-owned Augment Investments Limited belonging to oligarch Viktor Kharitonin was going to acquire JSC Mondi Syktyvkar).
Mondi Group stated it would continue working on obtaining permits for the sale of its key asset in the Russian Federation.
The value of the deal for the sale of Mondi‘s three processing plants in Lebedyan, Pereslavl and Aramil to Gotek Group is expected at €24 million.
Currently, the agreement has been reached, while permission for the transaction should be received in the first half of 2023.
The expected loss of Mondi Group from the sale of these assets is €70-80 million. The company decided to completely divest its Russian business on May 4, 2022.
And finally, the main news.
Mondi has collaborated with the German packaging manufacturer FRESH!PACKING to create a new recyclable and durable consumer cooler bag to carry chilled or frozen food.
The Fresh!Bag outer layer is entirely made of Mondi’s durable kraft paper replacing the traditionally used unrecyclable, multi-material packaging.
Certified as fully recyclable in Europe’s existing paper waste streams, the bag’s cooling element is created using pulp, which is encased in Mondi’s kraft paper.
The paper has a high stretchability, allowing easy sewing of the different plies to create a strong bag structure. The bag has a high resistance to tear and can carry large weights and sizes.
Extra security and convenience is provided by the Fresh!Bag‘s handle, which loops within itself easily, forming an open seal.
The bags are durable and can be re-used multiple times by the consumer. Mondi’s kraft paper also provides retailers with good printability for branding and messaging.
Fresh!Bag recently won the German Packaging Award 2022 in the Functionality & Convenience category. FRESH!PACKING now aims to launch the bag across Europe.