Dive Brief:
- The Russian government has seized control of assets in that country owned by Canpack, a metal canmaker with corporate offices in Wayne, Pennsylvania, and Krakow, Poland. Canpack’s operations have been put under “temporary external administration by Presidential Decree,” according to a company news release.
- Canpack said in the release that it doesn’t understand the government’s action because it has operated in Russia for 30 years in adherence with all regulations, and it has provided jobs for more than 500 Russian employees.
- Canpack also said it is “assessing the legal, operational and financial consequences of the government’s action, and intends to take all appropriate measures that may be available in order to protect its rights, ownership of its assets, continuity of its operations, and the welfare of its employees.”
Dive Insight:
A wave of global companies discontinued operations in Russia following the latter country waging its ongoing war on Ukraine starting in 2022. Packaging manufacturers that exited Russia include Amcor, Ball and International Paper.
Packaging manufacturer Silgan said in an annual report it released in 2023 that it was in the process of shutting down two metal container plants in Russia, but it did not announce that it would divest the plants. In July 2024, Russia ordered a temporary takeover of two Silgan facilities.
In January 2024, the Yale School of Management released a list of companies that continued to operate in Russia and those that were curtailing operations there to varying degrees. It noted Canpack was holding off on new investments in Russia but continued to do substantive business there. Multiple European publications estimate the company has about 30% of the share of Russia’s aluminum drink container market, and the company lists a total of three locations in the Moscow and Rostov regions.
Canpack declined to provide Packaging Dive with any additional comments.
Russian state news agency Tass says the Russian government’s Stalelement company temporarily assumed 100% control of Canpack’s assets as of Dec. 31, 2025, but the decrees were just recently published. At the same time, the Russian government seized control of assets belonging to Denmark-based insulation company Rockwool.
