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1 March 2022
Mondi Papers Mills Hurt By Ukraine Crises
RUSSIA—
Mondi Papers is one of the worlds largest printing paper mills with mills in Europe , North America , South America and Africa and Russia . Mondi owns the largest Russian paper producer, Mondi Syktyvkar, and earns around 12% of its revenue from that country. It has a paper and uncoated fine paper mill located in Russia’s Komi republic, which employs around 4,500 employees.
In a statement on Monday, Mondi said that its Russian businesses are all currently operational. However, operations at the company’s paper bag plant in Lviv, Ukraine have been suspended. The plant employs 100 people. Shares in Mondi have been hit hard as the market digested the impact of the Ukraine crisis on its business. What impact this will have on world paper supplies is unknown.
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