Metsä Group completes sale of Russian subsidiaries to VLP Group
Metsä Group announced on May 13, 2024, the completion of the sale of its Russian subsidiaries to VLP Group. The company no longer holds any assets in Russia.
Helsinki – Metsä Group announced on Monday, May 13, 2024, that it has completed the transfer of ownership in its Russian subsidiaries Metsä Svir LLC, Metsä Forest St. Petersburg LLC, Metsä Forest Podporozhye LLC, and Metsä Board Rus LLC to VLP Group. The purchase price has not been disclosed.
VLP Group operates in the forestry and forest industry, primarily in the Vologda region. Metsä Group held a minority ownership in VLP Group between 2003 and 2017.
Metsä Group ceased its business operations in Russia in 2022, including the operations of the Svir sawmill, wood procurement, and paperboard sales. Following this transaction, Metsä Group holds no assets in Russia.