News in international markets

UPM Suspends Deliveries to Russia

As the result of Russia’s invasion of Ukraine, UPM-Kymmene Oyj, the Helsinki, Finland-based forest industry company, has announced that it intended to temporarily cease deliveries to Russia. While the forest industry is not directly targeted by the international sanctions at the moment, sanctions against the financial sector may impact UPM’s or its customers’ businesses and transactions in Russia.

Stora Enso Oyj Halts All Exports and Imports From Russia

On Tuesday (3-2-22), Stora Enso Oyj, the Helsinki Finland-based integrated paper, packaging, and forest products company, which operates three corrugated packaging plants and two wood products sawmills in Russia, said it will stop all exports and imports to and from Russia. The company also announced that a mitigation plan has been activated to secure availability of input materials from other sources.

Stora Enso to Invest 9 Million Euros in Automated Cross-Laminated Timber Coating Line at Ybbs, Austria Sawmill

Stora Enso announced on Friday (2-11-22) that it will be investing 9 million euros in an automated cross-laminated timber (CLT) coating line at their Ybbs sawmill in Austria. In the news release, the company said the investment will further strengthen its position as a leading global provider of engineered wood products for low carbon, sustainable buildings.