The assets of Russia-based Silgan Holdings, which makes metal food packaging, have been transferred to temporary state management, according to a decree issued by President Vladimir Putin on July 11, recently reported by Reuters.
The decree states that 100% of the shares in Silgan Metal Packaging Stupino LLC, Moscow Region, and Silgan Metal Packaging NM LLC, Adygea, belonging to Silgan Holdings, are now under the control of the Federal Property Management Agency (Rosimuschestvo).
The financial statements of both companies indicate that turnover had begun to decline, with total revenues falling to RUB3.6 billion in 2022 from RUB4.3 billion in 2021. In addition, Silgan’s companies in Russia were essentially idle in 2023 according to financial indicators.
