In Polish newspaper Bankier.pl, Arctic Paper CEO Michał Jarczyński talks about the possible impact of the war in Ukraine on his company.
Europe is in a state of shock after the outbreak of a war in Ukraine. However, stakeholders also wonder how the conflict will impact the pulp and paper industry.
In an online conference, Arctic Paper President Michał Jarczyński talked about the effects he expects for his company. The article was published in Polish newspaper Bankier.pl.
According to this article Mr Jarczyński said that the management board of Arctic Paper expects the group not to be directly affected by the events in Ukraine. Arctic Paper's sales to Belarus, Russia and Ukraine in 2021 did not exceed 1.7 per cent in total group sales. In Mr Jarczyński's opinion, the introduction of any restrictions on trade with these countries will not affect the results at all Arctic Paper group.
A possible decline in sales to the East depended on potential sanctions that would limit trade between Russia and the EU, said Mr Jarczyński. In that event, sales to Russia and Belarus would drop to zero. However, these volumes could be redirected to Western Europe and find outlets there without any problems.
Arctic Paper's sales to Ukraine amount to 1,200 tpy. If customers in Ukraine were interested in continuing cooperation, the group would continue to supply them under the condition of 100 percent prepayment and collection of goods from the paper mills, the CEO said according to Bankier.pl.
Mr Jarczyński added that it was currently difficult to say what impact the conflict between Russia and Ukraine would have on the economic situation in Europe, but if there were no extraordinary events, 2022 should continue the good trend of 2021 for Arctic Paper.