BRUSSELS, April 13, 2015 (RISI) - The Russian OBF group has divested its Astrakhan corrugated packaging plant located in southwestern Russia.
The asset was sold to the Diamond investor group, OBF said. The cost of the deal, which was finalized in March, was not disclosed.
OBF said that the divestment of the Astrakhan plant is part of the group's strategy to focus on containerboard production, adding that the corrugated packaging business is not on the firm's current priority list.
The Astrakhan plant, which houses a sole 2.1 m wide corrugator, produced some 22 million m2 of corrugated packaging in 2013, according to OBF.
OBF is one of the largest recycled containerboard producers in Russia. The firm manages the Sukhonskiy pulp and paper mill, the Polotnyano-Zavodskaya mill and the Balakhna board mill, formerly, Poligrafkarton. OBF's total containerboard capacity is around 200,000 tonnes/yr.