Essity leaves Russian market

Essity, a hygiene products company, has completed the sale of its assets in Russia.

This is reported on the company's website, Ukrinform says.

"Ever since the start of Russia’s war against Ukraine, we have been fully focused on exiting Russia. Today, we have completed the divestment of our business following a long and complex process," Magnus Groth, President and CEO of Essity, stated.

In 2022, the company's assets in Russia were impaired by approx. SEK 1.7 billion.

Last year, Essity's sales in Russia amounted to about 2% of the total.

As reported, in April last year, Essity announced its withdrawal from Russian market. The procedure for the company's withdrawal from Russia was launched. The value of the company's assets in Russia fell by about SEK 1.4 billion.

Essity was represented on Russian market by Zewa, Tork, Libero, Libresse and TENA brands.