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Amcor packaging producer sells its factories in Russia — company

It is reported that Amcor’s three factories in Russia generated approximately 2% of total Amcor sales in fiscal 2022

MOSCOW, December 23. /TASS/. Amcor, an international packaging company, has completed a deal to sell three factories in Russia.

"Amcor announced today it completed the sale of its three factories in Russia to HS Investments, a Russian-based investor, after receiving all necessary regulatory approvals and cash proceeds, including receipt of closing cash balances. The cash and debt free consideration value is €370 million," the company said in a press release on its website.

Amcor’s three factories in Russia generated approximately 2% of total Amcor sales in fiscal 2022, according to the press release.

The sale of the Russian sites is not expected to have a significant impact on the company's performance in fiscal 2023.

Amcor is a global leader in developing and producing responsible packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other products. In Russia Amcor owned one factory in St. Petersburg and two factories in Veliky Novgorod. The total number of employees of Russian enterprises is 900 people. The company's shares are listed on the Australian and New York Stock Exchanges.

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