Essity to sell Russian business to local management — Industry and Trade Ministry

The Swedish company Essity, which owns the trademarks Zewa, Libresse and Libero, will transfer its enterprises in Russia to local management and their activities will continue, the press service of the Industry and Trade Ministry reported, Azernews reports, citing TASS.

"Indeed, the management of the global Swedish company Essity has decided to leave the Russian market and transfer the right to manage production facilities to Russian shareholders. The company's activities will continue, and this decision will not affect the range and volume of products, will not affect its value," the statement says.

The ministry stressed that jobs at enterprises will be preserved.

"The Industry and Trade Ministry is aware of the situation and is closely monitoring the process of transferring rights and the further operation of enterprises, being in constant contact with the new owners," the ministry said.

Earlier it was reported that Essity, which produces 70 different personal care products in Russia, is finally leaving the Russian market and selling its business in the Russian Federation.

Essity manufactures toilet paper, paper towels and handkerchiefs, boxed tissues, wet and table wipes, face masks, as well as soaps, lotions, and hand sanitizers. The company began operations in Russia in 1994, and today the Russian division employs about 1,300 people. The Russian market has a range of hygiene products under Zewa, Tork, Libero, Libresse and Tena brands. There are three Essity factories in Russia.