CCL-Kontur had sales of approximately $26 million in 2007. CCL is investing approximately $16 million to acquire a 50 percent interest in these assets and to provide funding for additional capacity related investments.
“We have known Mr. Mamedov and his management team for some time and have high regard for them and their knowledge of both the Russian label industry and the business climate of the country in general,” says Geoffrey Martin, president of CCL Industries. “We consider them excellent partners to introduce CCL Label products and technologies into one of the fastest growing markets in the world.”
Mamedov adds, “CCL-Kontur is well placed to supply the existing global customers CCL Label does business with, many of whom are actively involved in the Russian consumer products market. We are also delighted to have access to the know-how of the largest label company in the world.”
Donald Lang, vice chairman of CCL Industries, says, “Russia is another important step in establishing a global footprint for our company. We are very fortunate to have found such a good partner who has a proven track record in other successful joint ventures and distribution businesses with both North American and European companies and we are excited about our future growth prospects together.”
Headquartered in Toronto, ON, Canada, CCL Industries employs approximately 5,200 people and now operates 51 production facilities in North America, Europe, Latin America and Asia. CCL manufactures pressure sensitive, shrink sleeve and in-mold labels, aluminum containers, and plastic tubes for global companies in the home and personal care, healthcare and specialty food and beverage markets.