News
Essity Divests Operations in Russia
June 12, 2023Essity has successfully divested the entirety of the company’s operations in Russia.
Essity announced in March that the company planned on ceasing production and sales in Russia, which amounts to 2% of its total revenue. The company took a writedown of about US$157 million on its assets in Russia this past April. Essity has signed a sales agreement with an unnamed buyer, and the transaction has been approved by Russian authorities with the deal expected to be finalized during the second quarter of 2023.
About Essity
Essity is a global hygiene and health company that develops, produces, and sells personal care, consumer tissue, and professional hygiene products and solutions. For more information visit www.essity.com.
