The company intends to complete the process of selling the Russian business as soon as possible.

The American paper company Sylvamo, which also produces products under the brand SvetoCopy, is leaving Russia and plans to sell the Svetogorsk Pulp and Paper Mill (Leningrad region, owned by “Sylvamo Corporation Rus”). This is stated in the company’s financial report for the first quarter of 2022.

“We have decided to leave Russia. We will do this in accordance with the established procedure and are in the process of selling our Russian business. We are working to reach an agreement and plan to complete this process as soon as possible, including obtaining the approval of our board of directors, as well as the necessary government permits to execute the transaction,” the company said.

In Russia, Sylvamo (headquartered in Memphis, USA) produces and sells office and offset paper, cardboard for packaging liquid food products and bleached chemical and thermomechanical mass.