CCL forms joint venture label business in Russia

CCL forms joint venture label business in Russia

CCL Industries has created a newly named label company, CCL-Kontur, which will service the territories of Russia and other CIS countries. 


The new company is jointly owned by CCL Label and Ilgar Mamedov, a well-known entrepreneur in the Russian label industry. Mamedov has contributed the assets of two label businesses into the new company: Kontur Plus, based in a new state-of-the-art facility in Moscow, and Asterix, based in St Petersburg. 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. 


Geoffrey Martin, president and chief operating officer of CCL Industries, said, ‘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. We consider them excellent partners to introduce CCL Label products and technologies into one of the fastest growing markets in the world.’ 


Mamedov added, ‘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.’