Tag: Russia

Rehau to withdraw business in Russia

The Rehau Group has announced the intention to sell its business in Russia to local management and will withdraw completely from the country. The company says a corresponding preliminary agreement has now been signed by both parties. Rehau...

Stora Enso divests its packaging operations in Russia

Stora Enso has divested its three corrugated packaging plants in Russia. The Company’s Lukhovitsy, Arzamas and Balabanovo packaging plants have been divested to local management. Stora Enso’s assessment is that due to the uncertainties in the Russian market,...

Valmet’s withdrawal from Russia is progressing

Valmet has progressed in reviewing its operations in Russia and implementing its exit plan. Already in the spring, the company decided not to make any new sales projects in Russia. In addition, it canceled €70 million of its...

Ponsse divests its subsidiary in Russia

Ponsse Plc has sold all shares in OOO Ponsse, its subsidiary that provided PONSSE services in Russia and Belarus. Today on 28 June 2022, Ponsse signed the deed of sale, according to which Ponsse’s operations in Russia will...

Ponsse decides to divest its operations in Russia

The divestment of all shares in OOO Ponsse, Ponsse Group’s subsidiary providing PONSSE services in Russia and Belarus, is currently being negotiated. The signing will be completed in the near future. “We have been looking for a solution to...

Plywood production continues to decline in Russia

In January-April 2022, plywood production in Russia decreased by 10.3% YoY to 1.346 million m³, Rosstat reports. Production declines for the second month in a row. In April 2022, plywood production fell by 6.5% compared to the previous...

The USA has developed a draft bill prohibiting the import of Russian and Belorussian timber products

The House of Representatives of the US Congress developed a draft bill prohibiting the import of Russian and Belorussian timber and products thereof. This document was submitted to the House of Representatives on April 7. Specific types of...

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...

Koskisen exits its operations in Russia

Koskisen has decided to discontinue its operations in Russia. The company will run down it’s Russian’s sawing operations and stop importing sawn goods and logs from Russia. The discontinuation of operations will be carried out with personnel and...

Komatsu to suspend shipments to Russia

Due to the current supply chain disruption and the uncertainty of the financial and economic situation, the Japanese forestry equipment manufacturer Komatsu has decided to suspend shipments to Russia for the time being. In line with its crisis...

UPM will cease deliveries to Russia

UPM will cease its deliveries to Russia for the time being. UPM businesses will keep the Russian customers and suppliers informed of the situation. In Russia, UPM employs 800 persons most of whom work at the Chudovo plywood...

IKEA pauses operations in Russia and Belarus

Inter IKEA Group has taken the decision to pause all export and import in and out of Russia and Belarus. Inter IKEA Group has taken the decision to pause all IKEA Industry production operations in Russia. This also...