Sign In
20 Mar 2023 10:00
Smurfit Kappa Group plc (‘SKG’ or ‘the Group’) announces that it has completed its exit from the Russian market. The Group announced its intention to exit the Russian market in an orderly manner on 1 April 2022 and subsequently entered into an agreement to sell its Russian operations to local management.
Following the approval of the Russian authorities and the completion of all necessary administrative processes, the Group’s operations in Russia have now been sold to local management. The operations include a bag-in-box facility and two corrugated plants in St Petersburg, and a corrugated plant in Moscow.
ENDS
About Smurfit Kappa
Smurfit Kappa, a FTSE 100 company, is one of the leading providers of paper-based packaging solutions in the world, with more than 47,000 employees in over 350 production sites across 35 countries and with revenue of €12.8 billion in 2022. We are located in 22 countries in Europe, and 13 in the Americas. We are the only large‑scale pan-regional player in Latin America. Our products, which are 100% renewable and produced sustainably, improve the environmental footprint of our customers.
With our proactive team, we relentlessly use our extensive experience and expertise, supported by our scale, to open up opportunities for our customers. We collaborate with forward-thinking customers by sharing superior product knowledge, market understanding and insights in packaging trends to ensure business success in their markets. We have an unrivalled portfolio of paper-based packaging solutions, which is constantly updated with our market-leading innovations.
This is enhanced through the benefits of our integration, with optimal paper design, logistics, timeliness of service, and our packaging plants sourcing most of their raw materials from our own paper mills.
We have a proud tradition of supporting social, environmental and community initiatives in the countries where we operate. Through these projects we support the UN Sustainable Development Goals, focusing on where we believe we have the greatest impact.
Follow us on LinkedIn, Twitter, Facebook, YouTube.
smurfitkappa.com
Contacts | |
Ciarán Potts Smurfit Kappa T: +353 1 202 71 27 E: ir@smurfitkappa.com | Orla Cox FTI Consulting T: +353 86 803 2488 E: smurfitkappa@fticonsulting.com |
View source version on businesswire.com: https://www.businesswire.com/news/home/20230320005382/en/
Copyright Business Wire 2023
Follow the stocks
