Metsä Group has finalized the sale of its Russian subsidiaries to VLP Group as of May 13, 2024. The transaction included the transfer of ownership of Metsä Svir LLC, Metsä Forest St. Petersburg LLC, Metsä Forest Podporozhye LLC, and Metsä Board Rus LLC. The financial details of the deal remain confidential.
VLP Group, primarily active in the forestry and forest industry sectors within Russia’s Vologda region, has taken over these assets. Metsä Group previously held a minority stake in VLP Group from 2003 to 2017.
In 2022, Metsä Group ceased all business activities in Russia, which included operations at the Svir sawmill, as well as wood procurement and paperboard sales. This recent transaction marks the end of Metsä Group’s asset holdings in Russia.
