Stora Enso divests its packaging operations in Russia
STORA ENSO OYJ INVESTOR NEWS 16 May 2022 at 9:00 EESTStora 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, local ownership and operation will provide a more sustainable long-term solution for these businesses and their respective employees. The transaction will have no material impact on Stora Enso’s annual sales and Operational EBIT. Due to reduced business prospects for these