Metsä Group completed the sale of its Russian subsidiaries to VLP Group

15 May 2024

Metsä Group has on 13 May 2024 completed a transaction in which the ownership in the group’s Russian subsidiaries Metsä Svir LLC, Metsä Forest St. Petersburg LLC, Metsä Forest Podporozhye LLC and Metsä Board Rus LLC has transferred to VLP Group. The parties have agreed not to disclose the purchase price of the transaction.

VLP Group operates in forestry and forest industry mainly in Vologda region, Russia. Metsä Group held a minority ownership in VLP Group during 2003–2017.

In 2022 Metsä Group stopped its business operations in Russia, including the operations of the Svir sawmill, wood procurement and paperboard sales. As result of the completed transaction Metsä Group does not hold any assets in Russia anymore.

 

Source: metsagroup.com