Smurfit Kappa Group (SKG) has completed its exit from the Russian market.
Following the approval of the Russian authorities and the completion of all necessary administrative processes, SKG’s operations in Russia have now been sold to local management.
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.
At the time of this announcement, SKG stated that its Russian business represents less than 1 per cent of the company’s forecasted sales.
Smurfit Kappa operated three corrugated packaging plants in Russia, which are located in Moscow and St. Petersburg. In St. Petersburg, the company also operated a bag-in-box site