Operations suspended in protest over Ukraine invasion.

 

Paper manufacturer Sylvamo, the US-based global producer of uncoated paper, has announced the suspension of its operations in Russia.

 

The company said it may halt production at its Svetogorsk mill in the country because of a lack of raw materials and critical supplies. Now the papermaker – formerly the printing papers unit of International Paper (IP) – has confirmed it is commencing an “orderly suspension of operations in Russia”.

 

The company also announced a US$250,000 donation to the International Committee of the Red Cross to assist the people of Ukraine.

 

Russia is an important market for Sylvamo, accounting for 15 per cent of total company revenue in 2021 – approximately US$525 million. Its local brand SvetoCopy is the market leader in Russia and, together with sister brand Ballet, has a supply position of around 45 per cent.

 

Meantime, three companies familiar to OPI readers have taken a strong stance to Russia’s attack on Ukraine.

 

On 2 March, trade show organiser Messe Frankfurt announced it was suspending events run by its Russian subsidiary until further notice.

 

On the same day, paper manufacturer Stora Enso said it was stopping all production and sales in Russia until further notice. The company has three corrugated packaging plants and two wood products sawmills in Russia, employing around 1100 people. It will also stop all export and import activity to and from Russia.

 

Another papermaker – UPM – made an announcement, although it didn’t go as far as Stora Enso in its actions. UPM said it was ceasing its deliveries to Russia “for the time being”, although a plywood mill that employs almost 800 staff will continue to run. In Ukraine, a UPM Raflatac distribution terminal in the Kyiv region– with 13 employees – has been closed until further notice.

 

For more on these an other stories go to www.opi.net/news/region/002-europe/sylvamo-suspends-russian-operations/