SFT will become a joint venture company with Prinzhorn group holding 50 % of the shares.
Austria's Prinzhorn Group, the parent company of Dunapack Packaging, Hamburger Containerboard and Hamburger Recycling, has signed an agreement to purchase a 50% stake in Russia's vertically integrated paper and corrugated packaging manufacturer SFT Group. The transaction is subject to approval by the relevant authorities.The value of the transaction will not be disclosed.
According to Prinzhorn, SFT Group has an annual production capacity of 450,000 t of recycled containerboard in basis weights of 90-200 g/m² and 500 million m2 of corrugated packaging. The company is also collecting and sorting 550,000 tpy of recovered paper.
SFT would continue to operate under its current name, Prinzhorn announced.
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