Segezha Packaging acquires assets in Turkey and Russia

According to the Agreement of September 2007, on the 30^th of November Segezha Packaging (part of Investlesprom Group) completed the acquisition of the Turkish cement sack operations of Isiklar Ambalaj, with 2 sack plants in Turkey, and a combined production capacity of 300M paper sacks per annum.

Segezha, which is owned by Russia’s ILP Group, is the world’s second largest manufacturer of industrial paper sacks. It produces about 1.3 billion paper sacks annually in high-quality production facilities in ten countries, across Europe and Russia, and employs around 1500 people.

The 2 plants acquired by Segezha are in Izmir, in the western part of Turkey, and Elazig, in the eastern part of the country.

According to Peter Buckley, CEO, Segezha Packaging Group, with 5 modern production lines, an experienced work force, a strong management team and an excellent position in the Turkish cement market, the operations are an excellent fit within Segezha’s global paper sack operations.  This purchase strengthens Segezha’s already strong position in the fast growing Emerging European markets region and provides an excellent base for expansion into the Middle-East, North Africa and Asia regions.

Another important project of Segezha Packaging is the construction of a sack production plant in Saransk (the Republic of Mordovia). In early December we are going to register the site property rights- Daniel Matyukhin, general manager of Segezha Packaging for CIS, says. – Sack production lines will be delivered here from the Holland and Spain factories of Segezha Packaging during December.