Segezha Group

Russian Segezha Group's Q1 earnings fall despite rising prices The revenue decline was primarily due to lower sales volumes.

Segezha Group tackles high debt Segezha Group's revenue declined 9% in 2023, leading to a net loss of about $197 million.

Crisis looms over Russian pulp and paper industry amidst sanctions and plummeting Chinese demand Russia currently faces an excess of approximately 600 thousand tons of corrugated cardboard, and this surplus is expected to reach a total of 1 million tons.

Russian lumber exporters began to compete fiercely with each other in Chinese market China has become the only major market for Russian lumber producers after Western sanctions were imposed on Russia over its invasion of Ukraine. Without sales to Europe, the sawmills of the North-West of Russia rushed to conquer China, where they faced competition from Siberian and Far Eastern sawmills.

Swedish entrepreneur Martin Hermansson acquires UPM assets in Russia In Russia, UPM owned the Chudovo plywood mill in the Novgorod region. Chudovo produces birch plywood for construction, transport engineering and gas tankers. In 2021, the plant's revenue reached 8.2 billion rubles (about $105 million).