HUHTAMAKI
Finnish packaging group to sell Russian plants / Move follows attack on Ukraine / CEO to resume duties
The Huhtamaki packaging group (Espoo, Finland; www.huhtamaki.com) has announced plans to sell its production facilities in Russia due to Moscow’s decision to invade Ukraine.

Huhtamaki has four production facilities in Russia, where it employs some 700 people. The company said last year net sales in Russia represented around 3% of group revenue, which was EUR 3.58 bn.

The packaging group, which employs around 18,600 people at some 80 locations worldwide, now wants to sound out the market for potential buyers. Business activities are expected to continue during at least part of the transition phase.

Huhtamaki entered the Russian market in 1980 to supply the Moscow Olympics with Finnish-made products. Production in Russia began in 1994 in Ivanteevka, near Moscow, where Huhtamaki currently manufactures both foodservice and fibre packaging such as egg cartons. The Alabuga site in Tatarstan started operations in 2016, initially as a production site for paper cups.

In addition to the aforementioned products, Huhtamaki’s portfolio includes cardboard and rigid plastic packaging solutions, and machines for filling and sealing.
CEO returns to work
The company said Huhtamaki president and CEO Charles Héaulmé was to resume his duties on 19 April 2022. On 21 December 2021, Huhtamaki announced that he was diagnosed with cancer and had to take a leave of absence.

Thomas Geust, who has acted as interim deputy CEO, will continue in his role as CFO, the firm announced, saying that interim COO Eric Le Lay will continue in his role as president for fibre and foodservice in Europe, Asia, and Oceania. These changes were to take effect on 18 April.
21.04.2022 Plasteurope.com [250114-0]
Published on 21.04.2022
Huhtamaki: Finnischer Verpackungskonzern will russische Werke abstoßenGerman version of this article...

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