Metsä Group completed the sale of its Russian subsidiaries to VLP Group
Metsä Group has on 13 May 2024 completed a transaction in which the ownership in the group’s Russian subsidiaries Metsä Svir LLC, Metsä Forest St. Petersburg LLC, Metsä Forest Podporozhye LLC and Metsä Board Rus LLC has transferred to VLP Group. The parties have agreed not to disclose the purchase price of the transaction.
VLP Group operates in forestry and forest industry mainly in Vologda region, Russia. Metsä Group held a minority ownership in VLP Group during 2003–2017.
In 2022 Metsä Group stopped its business operations in Russia, including the operations of the Svir sawmill, wood procurement and paperboard sales. As result of the completed transaction Metsä Group does not hold any assets in Russia anymore.
For further information, please contact:
Miika Arola, Group General Counsel, Metsä Group, tel. +358 10 465 4205
Metsä Group
www.metsagroup.com
Metsä Group has its roots in the Finnish forests: our parent company Metsäliitto Cooperative is owned by over 90,000 forest owners. We use wood to make recyclable products for the day-to-day lives of millions of people globally. We focus on wood supply and forest services, wood products, pulp, paperboards, and tissue and greaseproof papers. We are committed to the principles of regenerative forestry to measurably strengthen the state of forest nature. We promote a culture of diversity, equality and inclusion. In 2023 our sales totaled EUR 6.1 billion, and we have around 9,500 employees.