Mondi has had operations in Russia for more than 22 years, where it employs 5 300 workers. The Russian operations represented 12% of Mondi’s revenue in 2021, and 20% of the group’s earnings over the past three years.
Mondi owns the biggest paper mill in Russia, located in Syktyvkar in the federal state of Komi, which is in the northwestern part of the country. It also has three other plants. All of its factories continue to operate. "The board is assessing all options for the group’s interests in Russia, including any form of legal separation. This does not mean, or imply, that Mondi is planning, or initiating, any liquidation or bankruptcy proceedings in relation to any of its Russian subsidiaries or assets," said Mondi on Friday.
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