Russia Nationalizes Major Canned Food Producer Glavproduct
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Russia Nationalizes Major Canned Food Producer Glavproduct
Glavproduct is one of the country’s largest canned food producers. Ownership of the company was officially transferred to the Russian state on July 28. The move follows a legal claim filed by the Prosecutor General’s Office earlier this year.
Ownership of Glavproduct’s parent company, Promselkhozinvest LLC, was officially transferred to the Russian state on July 28, according to the Unified State Register of Legal Entities.
The move follows a legal claim filed by the Prosecutor General’s Office earlier this year, which sought to “protect public interests in ensuring the country’s economic sovereignty,” according to court documents. The lawsuit aimed to invalidate certain transactions and recover assets for the Russian state.
Glavproduct, known for producing over 500 brands of canned meat, fish, vegetables and condensed milk, was previously controlled by Promselkhozinvest, itself owned by the U.S.-registered Universal Beverage Company.