The business has three corrugated packaging plants and two wood products sawmills in Russia, which employ around 1,100 people. The company will also stop all export and import to and from Russia. A mitigation plan has been activated to secure availability of input materials from other sources.
In a statement released today (2 March), president and CEO Annica Bresky said: “The war in Ukraine is unacceptable and we are fully behind all sanctions. We will now focus all our attention on supporting our customers and the wellbeing of our employees.”
Stora Enso’s sales in Russia are approximately 3% of total group revenues. The impact on Stora Enso’s sales and EBIT is not material.
Last week, the CEO of graphics and signage installation workflow software provider Vism called on the industry to support the Ukrainian army.
