Recently we wrote about Stora Enso’s sale of its forestry business in Russia. Then, it was the sawmilling business and felling rights that were sold. Now, according to a press release from the 16thof May, their packaging business will also be sold.
Stora Enso divests its packaging operations in Russia
It’s the corrugated packaging plants in Luhovitsy, Arzamas, and Balabanovo that have been divested to local management.
Stora Enso’s assessment is that local ownership and operation will provide a more sustainable solution for the businesses and their employees. The plants in question employ approx. 620 people and have an annual capacity of 395 million cubic meters of corrugated packaging.