Stora Enso discontinues production and sales in Russia

Stora Enso is suspending production and sales in Russia until further notice due to the ongoing invasion of Ukraine.

Stora Enso announces that it will suspend production and sales in Russia until further notice due to the ongoing invasion of Ukraine.

Stora Enso operates in Russia three plants for corrugated board packaging and two sawmills for timber products, which employ around 1,100 people. The company will also stop all exports and imports to and from Russia. A damage limitation plan has been activated to minimise the Availability of raw materials from other sources ensure.

„The war in Ukraine is unacceptable, and We fully support all sanctions. We will now concentrate fully on supporting our customers and the well-being of our employees.“

Annica Bresky, President and CEO

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The turnover of Stora Enso in Russia is around 3 per cent of total Group sales. The impact on Stora Enso's sales and EBIT is not material, the company announced.

Source: Stora Enso

 

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