Huhtamaki to initiate process to divest its Russian operations

Huhtamaki has decided to initiate the process to divest its operations in Russia. This follows an earlier decision to stop all investments in Russia. Huhtamaki considers that the current evolution of the situation and the long-term outlook in Russia will prevent the realization of its growth strategy and long-term ambitions in the country.

Huhtamaki has four manufacturing units in Russia, employing approximately 700 people. The net sales in Russia represent approximately 3% of the Group’s total net sales.

Huhtamaki will explore the market for potential buyers and will maintain its operations during this transitional period, subject to supply chain availability, to meet its contractual and regulatory obligations and to safeguard employees and customers.