Stora Enso stops all production and sales in Russia

- Advertisement -

HELSINKI, Finland, March 2, 2022 /PRNewswire/ — STORA ENSO OYJ INVESTOR NEWS, 2 MARCH 2022 AT 10:00 EET

Stora Enso today announced that they will stop 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 around 1,100 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.

“The war in Ukraine is unacceptable and we are fully behind all sanctions. We will now focus all our attention on supporting our customers and the well-being of our employees,” says Annica Bresky, President and CEO.

Stora Enso’s sales in Russia is approximately 3% of total Group revenues. The impact on Stora Enso’s sales and EBIT is not material.

For further information, please contact:

Carl Norell

Press officer

tel. +46 72 241 0349

Investor enquiries:

Anna-Lena Åström

SVP Investor Relations

Tel. +46 70 210 7691

Part of the global bioeconomy, Stora Enso is a leading provider of renewable products in packaging, biomaterials, wooden construction and paper, and one of the largest private forest owners in the world. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has approximately 22,000 employees and our sales in 2021 were EUR 10.2 billion. Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY). storaenso.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/stora-enso-oyj/r/stora-enso-stops-all-production-and-sales-in-russia,c3517201

Disclaimer: The above press release comes to you under an arrangement with PR Newswire. Agrigate Global takes no editorial responsibility for the same.