UPM | UPM completed its departure from Russia

The company says that it has now sold all of its Russian business operations.

Forestry company UPM has completed its withdrawal from Russia. The company says it has now sold all of its Russian operations, including the Chudovo plywood mill, to Gungnir Wooden Products Trading. The parties have agreed not to publish the details of the transaction.

UPM announced in March of last year that it would suspend its business in Russia. The announcement covered deliveries, wood procurement and the operation of the Chudovo plywood factory. In the background is the war of aggression started by Russia in Ukraine.

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