7 September 2022
Mondi Sells Russian Paper Mills
One of the world's largest printing papers mills with over 1000 locations world wide
One of the world's largest printing papers mills with over 1000 locations world wide
  Mondi Papers one of the world's largest paper mills has agreed to sell its Russian operation  Mondi Syktyvkar to Augment Investments, the holding company of businessman Viktor Kharitonin, for  around $1.55 billion . Mondi, which had drawn criticism in the wake of Russia's invasion of Ukraine for being slow to withdraw from Russia. Syktyvkar has for nearly two decades been one of Mondi's most reliable cash cows. Last year, it generated earnings of some 334 million euros on revenue of only 821 million.
One of Mondi's Russian Paper Mills.
One of Mondi's Russian Paper Mills.
It earned another 225 million euros in the first half of this year, despite the outbreak of war. Mondi  Papers is one of the worlds largest printing paper mills with  mills in Europe , North America , South America and Africa and Russia . Mondi owns the largest Russian paper producer, Mondi Syktyvkar, and earns around 12% of its revenue from that country. It has a paper and uncoated fine paper mill located in Russia’s Komi republic, which employs around 4,500 employees. 
 
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