Segezha Group

Crisis looms over Russian pulp and paper industry amidst sanctions and plummeting Chinese demand Russia currently faces an excess of approximately 600 thousand tons of corrugated cardboard, and this surplus is expected to reach a total of 1 million tons.

Russian lumber exporters began to compete fiercely with each other in Chinese market China has become the only major market for Russian lumber producers after Western sanctions were imposed on Russia over its invasion of Ukraine. Without sales to Europe, the sawmills of the North-West of Russia rushed to conquer China, where they faced competition from Siberian and Far Eastern sawmills.

Swedish entrepreneur Martin Hermansson acquires UPM assets in Russia In Russia, UPM owned the Chudovo plywood mill in the Novgorod region. Chudovo produces birch plywood for construction, transport engineering and gas tankers. In 2021, the plant's revenue reached 8.2 billion rubles (about $105 million).

Russian Segezha Group sells its paper packaging plants in Europe With the start of European sanctions, the company could not supply European plants with sack paper.

Segezha Group considers sale of its packaging plants in Europe Segezha Group mulls the sale of Segezha Packaging plants in Europe or forming joint ventures.