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Smurfit Kappa Group PLC on Monday said it has completed its exit from the Russian market, as it has sold its operations in the country to local management.
The Dublin-based packaging maker said the sales, approved by Russian authorities, ‘include a bag-in-box facility and two corrugated plants in St Petersburg, and a corrugated plant in Moscow.’
In April last year, Smurfit Kappa announced its exit from Russia following the Russia’s invasion of Ukraine in February. Its Russian business represented 1% of forecasted sales.
Smurfit Kappa shares were up 1.0% to 2,856.06 pence each on Monday morning in London.
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