Mayr-Melnhof has acquired a folding carton plant in St Petersburg, Russia, for an undisclosed price. The site currently has one production line with pre-print and hot foil stamping facilities. Mayr-Melnhof says it has "high potential for further expansion in the short term". Annualized sales are expected to rise significantly over 2005 and 2006 to approximately €10M.
The company plans an investment programme of €8-10M that will increase the Russian plant's converting capacities by installing more printing lines. "The objective is to swiftly penetrate the Russian market, focusing on the production for the sharply increasing folding carton requirements of international consumer goods producers in all segments, including cigarette packaging."
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