The owner of Zewa, Libresse and Libero brands will transfer assets in the Russian Federation to local shareholders
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The Ministry of Industry and Trade of Russia commented on the news about the exit from the Russian market of the Swedish company Essity, which produces hygiene products under the Zewa, Libero and Libress brands. The ministry assured that the company would transfer Russian assets to local shareholders, and jobs would be saved.
“Essity has decided to leave the Russian market and transfer the right to manage production facilities to Russian shareholders. The activity of the enterprise will continue,” the press service of the department said and added that jobs would be saved (quote from Interfax).
Essity began winding down its business in Russia, which accounted for approximately 2% of its total sales, after launching a special operation in Ukraine. By the end of 2022, an asset impairment of approximately SEK 1.7 billion had been posted. Today, June 10, the company informedwhich closed the deal to sell the Russian part of the business.
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