Smurfit Kappa Decides to Quit Russian Market

SEATTLE (Scrap Monster): Leading European corrugated packaging company Smurfit Kappa announced its decision to exit the Russian market over the country’s invasion of Ukraine. It must be noted that the company operates three plants in the neighbourhood of St Petersburg.

According to statement issued by the company, it has already suspended support for its Russian operations, including any imports and exports as well as any short or long term funding. The exit will be implemented in an orderly manner. The company will comply with all legal obligations during the period of implementation. Also, it will continue to pay all its employees, the statement noted.

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As per estimates, the three facilities together employ around 800 workers. The Russian business represents less than 1% of the forecasted sales.

Moreover, Smurfit Kappa expressed solidarity with the people of Ukraine and all impacted by Russia’s unjustified attack on the country and its citizens. The Group is committed to continue providing all humanitarian support for Ukrainian people, alongside assisting the families of company employees and contractors from Ukraine. Incidentally, Smurfit Kappa has partnered with the Red Cross and a number of other aid agencies to ensure support to their relief efforts.