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Essity had three factories in Russia. Sales in the Russian Federation did not ex...

Will not affect the profit: the manufacturer of toilet paper and gaskets leaves from

Essity had three factories in Russia. Sales in the Russian Federation did not exceed 2% of the global volume, so businessmen believe that departure from the Russian market does not put on total profit. An international company headquarters in Essity, a manufacturer of Zewa toilet paper brands and Libresse pads, announced the sale of its business in Russia and to leave the country. The official statement was published on Saturday, June 10 on the company's website.

Essity had three factories in Russia, which were engaged in the production of toilet paper, diapers, napkins, female hygiene, antiseptic gels and soaps. The company noted that the Russian authorities have already agreed this agreement, which should be completed in the second quarter of 2023. It should be noted that the details of who became the buyer of Essity assets were revealed.

"In April 2022, Essity started working from the Russian market, and in 2022 the company's assets in Russia worth about 1. 7 billion Swedish crowns were depreciated," the statement said. Essity also noted that the sales of the company in Russia were only about 2% of the global volume in 2022 and that the planned departure from the Russian business would probably not affect the total profitability of the company.

We will remind, on May 2 it became known that the owner of the Tinder, company Match Group, announced its withdrawal from Russia until June 30, citing the need to protect human rights. Also, on April 18, it was reported that the Swedish company Absolut will no longer supply its products to the Russian Federation. In April, it was reported that Pernod Ricard resumed sales to the Russian market of Irish whiskey Jameson. Company products have become available in a popular alcoholic store in Moscow.