Essity leaves Russian market

Essity leaves Russian market

Essity, a hygiene products company, has completed the sale of its assets in Russia.

This is reported on the company's website, Ukrinform says.

"Ever since the start of Russia’s war against Ukraine, we have been fully focused on exiting Russia. Today, we have completed the divestment of our business following a long and complex process," Magnus Groth, President and CEO of Essity, stated.

Read also: Isuzu Motors leaving Russian market - media

In 2022, the company's assets in Russia were impaired by approx. SEK 1.7 billion.

Last year, Essity's sales in Russia amounted to about 2% of the total.

As reported, in April last year, Essity announced its withdrawal from Russian market. The procedure for the company's withdrawal from Russia was launched. The value of the company's assets in Russia fell by about SEK 1.4 billion.

Essity was represented on Russian market by Zewa, Tork, Libero, Libresse and TENA brands.

While citing and using any materials on the Internet, links to the website not lower than the first paragraph are mandatory. In addition, citing the translated materials of foreign media outlets is possible only if there is a link to the website and the website of a foreign media outlet. Materials marked as "Advertisement" or with a disclaimer reading "The material has been posted in accordance with Part 3 of Article 9 of the Law of Ukraine "On Advertising" No. 270/96-VR of July 3, 1996 and the Law of Ukraine "On the Media" No. 2849-Х of March 31, 2023 and on the basis of an agreement/invoice.

© 2015-2024 Ukrinform. All rights reserved.

Website design Studio Laconica

Extended searchHide extended search
By period: