Russia takes control of Swedish company: "So sick"

In addition to Kappa Rus, Russia also takes control of French Tarkett, German Menshen and Belgian Ontex.

President Vladimir Putin has by decree placed the companies under so-called temporary administration, reports Dagens Industri with reference to the state-controlled news agency Tass.

Patrik Ström loses control over three integrated corrugated board factories, a paper mill and a bag-in-box plant.

- It's just so crazy, he says to Di.

The shares, which are recorded at SEK 933 million in the annual report for 2024, are today owned by Ström through Sweden International Holdings, based in Stockholm.

The Kremlin has also previously carried out similar measures in response to the actions of various EU countries during the war in Ukraine.

The company mainly manufactures packaging for foodstuffs, with international groups such as Pepsi, Coca-Cola and Barilla as customers. Now Patrik Ström is worried that the company will be looted and the business destroyed.

Patrik Ström has worked in the factories in Russia for many years. He bought them in 2023 in connection with the Smurfit Kappa company leaving the country after Russia's invasion of Ukraine.

Ström now fears that in the next step the Russian state will present criminal charges, which will only be raised if the shares in the company are sold for a symbolic sum.

"There are so many people who have spent half their lives and their entire careers building something that is fantastic. And then it ends like this," he says to Dagens industri.