Austria's Prinzhorn Group Agrees to Buy 50 Percent Stake in Russian Corrugated Packaging Group SFT
The family-owned and vertically integrated SFT Group has an annual production capacity of 500 million metric square metres of corrugated packaging, 450,000 tons of containerboard and 550,000 tons of paper for recycling.
April 23, 2019 - Prinzhorn Group announced that it has agreed to purchase a 50 percent share of SFT Group, a packaging, paper and recycling group based in Russia. The deal will result in a joint venture between the two groups. Both parties agreed not to disclose the transaction value. The family-owned and vertically integrated SFT Group has an annual production capacity of 500 million metric square metres of corrugated packaging, 450,000 tons of containerboard and 550,000 tons of paper for recycling. All of SFT Group's production sites are located in the Central, North-West and Southern Federal Districts. The core production sites include Kamenskaya Paper & Board Mill, Aleksinskaya Paper & Board Mill, Kartontara in Maykop and Famadar Cartona in Taganrog, all leading producers of containerboard and corrugated packaging solutions. “This strong joint venture brings together long-term focus, market know-how and technical expertise. Our customers can benefit from our improved recycling, paper and packaging solutions,” said Cord Prinzhorn, CEO of Prinzhorn Group. ”With a similar and fully integrated setup like Prinzhorn Group, we see a lot of opportunities to grow our businesses together and faster. I strongly believe that we will experience a strong beneficial development within the near future,” said Stepan Khomyakov, CEO of SFT Group. SFT will continue to operate under its current name. To learn more about Group, please visit: sftgroup.ru/en. The transaction is subject to approval by the relevant authorities. About Prinzhorn GroupBased in Austria, Prinzhorn Group includes Dunapack Packaging, Hamburger Containerboard and Hamburger Recycling Divisions, which together employ 7000 people in 15 countries. The Group ranks among European market leaders in the recycling, paper and packaging industry. To learn more, please visit: www.prinzhorn-holding.com. SOURCE: Prinzhorn Group |