Alexey Mordashov declared that timber industry output plummeted by 80%

At St. Petersburg International Economic Forum (SPIEF 2022), Alexey Mordashov, owner of Severgroup that owns Sveza Group, reported a sharp decline of output in his timber business.

“Our output volume has taken a nosedive both in the timber industry and in steelmaking: by 80% in the former case and by about 25 – 30% in the latter case,” said Alexey Mordashov quoted by Interfax.