The government is seeking a buyer for a packaging factory confiscated from a Russian oligarch.

The State Property Fund (SPFU) is preparing to privatize the PentoPak plant, which Ukraine confiscated from Russian-Greek oligarch Ivan Savvidi for supporting Russian aggression.

“I am sure that the lot will be interesting for investors. After all, this is a ready-made business that is in the rapidly developing Ukrainian food industry,” stressed the head of the SPFU, Vitaly Koval.

PentoPak is a leader in producing packaging for meat and sausage products. The enterprise produces multi-layer synthetic heat-shrinkable casing using modern technologies. There are plans to develop new markets for packaging materials in the dairy industry, fish processing, and animal feed packaging.

PentoPak products are used by Ukrainians and dozens of companies from 30 countries worldwide. PentoPak production facilities are located near Kyiv.