Smurfit Kappa to exit Russia
Monday, April 4, 2022
Smurfit Kappa Group (SKG) has decided to exit the Russian market.
The group has already suspended support for its Russian operations including any imports and exports and any short or long-term funding.
In a statement released on Friday (1 April), the corrugated and paper-based packaging company said: “This exit will be effected In an orderly manner, during which we will continue to pay our employees and fulfil our legal obligations. Our Russian business represents less than 1% of forecasted sales.
“Smurfit Kappa stands in solidarity with the people of Ukraine and everyone impacted by the totally unjustified attack on Ukraine and its people. The group is providing, and will continue to provide, substantial humanitarian support for the Ukrainian people.
“We are also assisting the families of SKG employees and contractors from Ukraine as well as providing products and services to support the relief effort together with financial assistance to a number of aid agencies. We have also partnered with the Red Cross to provide funding to support their vital work.”
Last year Smurfit Kappa installed a Kongsberg cutting table at its Abercarn factory as the centrepiece of its new ‘Big Box’ design suite, which offers a next day XXL packaging prototyping service.