One of the world’s largest plywood producers has sold its business in Russia. The Finnish UPM owned two companies: their total annual revenue exceeds 26 billion rubles. After the start of the special operation in Ukraine, UPM’s business in Russia is inactive.
According to the Unified State Register of Legal Entities, two Russian companies that previously belonged to the Finnish UPM have changed ownership. Since January 23, the sole owner of the companies has been the joint-stock company Astronaut Rus Holdings OY.
LLC “UPM-Kymmene” is engaged in the sale of paper and cardboard products. According to the data of the Unified State Register of Legal Entities, the company worked in 2021 with a turnover of 18.4 billion rubles, with a net profit of 304 million rubles.
UPM-Kymmene Chudovo LLC operates a plywood production plant in the Novgorod region. The company’s revenue for 2021 amounted to 8.2 billion rubles, with a net profit of 1 billion rubles.
Finland’s UPM is one of the world’s largest producers of plywood, paper, cardboard and other woodworking products. According to its own data, the company’s annual turnover is 8.9 billion euros.
Following the start of the Russian special operation in Ukraine, UPM suspended its work in Russia.
Author:
Kirill Bilyk
Source: RB
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