The Finnish company Huhtamaki will stop all operations in Russia. It will continue its activities during the transition period and look for customers for its companies.
Huhtamaki is the world’s leading manufacturer of disposable tableware and food packaging. The company operates in 38 countries and is headquartered in Espoo, Finland. In Russia, the company has production facilities in Tatarstan and the Moscow region.
“This decision follows the previous decision to stop all investments in Russia,” Huhtamaki said in a statement.
Work during the transition period will continue, taking into account the availability of stocks for the fulfillment of obligations, protection of employees and customers, it is written in the press release.
The Finnish company fears that “current developments” and long-term prospects will hamper the implementation of growth strategies in Russia. About 700 people work at Huhtamaki’s production facilities in Russia.
Also read: Finnish chain Hesburger will close its restaurants in Russia this summer
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