Putin Orders Seizure of U.S. Packaging Maker’s Russian Plant
The move gives a Kremlin-linked manager control of a factory that earned 537 million rubles in net profit last year, according to financial statements.
- On Monday, President Vladimir Putin signed an executive order placing Illinois-based AptarGroup's Russian subsidiary, Aptar Vladimir, under temporary government control.
- Last Thursday, Putin transferred operations of French supermarket chain Auchan, Swiss food giant Nestlé, and other firms to L.E.V. Management, reflecting a broader wave of state intervention targeting Western corporate assets.
- Russia has seized assets of at least 30 foreign companies since the 2022 invasion of Ukraine, with The Kyiv School of Economics Institute estimating total losses for foreign companies at $170 billion.
- Aptar Vladimir was transferred to H&N, which previously took over French dairy giant Danone's Russian assets, as officials defended these seizures as retaliation for 'unfriendly' actions by Western countries.
- August executive orders allow the government to take control of strategically important facilities if owners fail to protect them from Ukrainian attacks, further tightening the Kremlin's grip on foreign corporate assets.
16 Articles
16 Articles
Putin Orders Seizure of U.S. Packaging Maker’s Russian Plant
President Vladimir Putin signed an executive order on Monday placing the Russian subsidiary of Illinois-based packaging manufacturer AptarGroup under temporary government control, marking the Kremlin’s latest seizure of Western corporate assets.
Vladimir Putin signed a decree, which transfers 100% of the company owned by the French Aptar Europe Holding to the Provisional Authority. "Aptar Vladimir" owns a Russian plastic packaging factory.
Vladimir Putin signed a decree to hand over Russian assets to the United States holding Aptar.
The Russian plastic packaging factory Aptar has been placed under the temporary management of the company Ach and En, known as the "Logica Milk"; the Russian enterprise of the plastic packaging manufacturer Aptar has been placed under the temporary management of the company Ach and En, which transmits the decision to TASS. The decision is set out in a decree of the President of Russia. The document specifies that 100 per cent of the capital of A…
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