UPM has sold all its business operations in Russia to Gungnir Wooden Products Trading and has completed withdrawal of its businesses from Russia by selling all its Russian operations. Source: Timberbiz
The sale included the Chudovo plywood mill to Gungnir Wooden Products Trading. The parties have agreed not to disclose the details of the transaction.
Following Russia’s war of aggression in Ukraine, UPM announced in March 2022 suspension of its business activities in Russia, including deliveries, wood procurement and the Chudovo plywood mill.
