Metsä Group completes sale of Russian subsidiaries to VLP Group

Metsä Group has, on 13 May 2024, completed a transaction in which the ownership in the group’s Russian subsidiaries Metsä Svir, Metsä Forest St. Petersburg, Metsä Forest Podporozhye, and Metsä Board Rus, have transferred to VLP Group. The parties have agreed not to disclose the purchase price of the transaction.

VLP Group operates in forestry and forest industry mainly in Vologda region, Russia. Metsä Group held a minority ownership in VLP Group during 2003–17.

In 2022, Metsä Group stopped its business operations in Russia, including the operations of the Svir sawmill, wood procurement and paperboard sales. As result of the completed transaction, Metsä Group no longer holds any assets in Russia.