Stora Enso is stopping all production and sales in Russia until further notice, due to the ongoing invasion in Ukraine.
Stora Enso has three corrugated packaging plants and two wood products sawmills in Russia, employing more than 1000 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. Stora Enso’s sales in Russia is approximately 3% of total group revenue. The impact on its sales and EBIT is not material.
Stora Enso president and CEO Annica Bresky commented, ‘We will now focus all our attention on supporting our customers and the well-being of our employees.’
She stated, ‘The war in Ukraine is unacceptable and we are fully behind all sanctions.’
