Koskisen’s wood processing company has sold its sawmill operations located in Russia to Cherepovetsles. Koskisen’s Russian operations were discontinued as planned previously.
Koskisen owned Koskisilva sawmill in Sheksna settlement of Vologoda region in Russia, which was built in 2007. The volume of investments amounted to Euro 15 million. Swedish-made power-saw benches have been installed at Koskisilva sawmill. The main products of the sawmill are high-quality birch lumber. The production capacity for two-shift operation is 20,000 m3 per year.
Since June 21, 2022, the owner of 100% of Koskisilva LLC in the register of legal entities of the Federal Tax Service of Russia is Cherepovetsles Management Company LLC.
The Russian business operations made up a small share of Koskisen’s net sales, and the financial impacts of the sale of the operations on the company are minor, as previously reported in a company press release.
Established in Finland in 1909, Koskisen is a forerunner in the sawn timber and panel industry.
After the start of Russian invasion of Ukraine, more than a thousand foreign companies announced their intention to suspend or completely stop business in Russia.