Svetogorsk Mill May Curtail or Temporarily Shut Down Production

Facing inadequate supplies of critical raw materials, Sylvamo (NYSE: SLVM) may curtail or temporarily shut down pulp and paper production at its Svetogorsk, Russia, mill later this week. The mill is currently operating while the company takes steps to mitigate the supply chain issues and continue production.

The Svetogorsk mill, located at the border with Finland, employs approximately 1,700 people and produces uncoated freesheet, coated paperboard and pulp. The mill relies on raw materials and other critical supplies and services imported from Europe.

The mill is also the primary water, electricity and water treatment provider for the Svetogorsk community. The company is committed to continuing to provide those critical services.

The Svetogorsk mill has an annual capacity of 720,000 short tons of pulp, paper and paperboard. Russian operations accounted for roughly 15% of Sylvamo’s 2021 total revenue. Strong momentum in the Latin America and North America regions is unaffected.

Sylvamo continues to monitor the rapidly evolving crisis in Ukraine.

“We hope for an immediate cease-fire agreement and swift diplomatic resolution,” said Jean-Michel Ribiéras, chairman and chief executive officer. “Our thoughts are with the citizens of Ukraine.”
https://investors.sylvamo.com/news/news-details/2022/Svetogorsk-Mill-May-Curtail-or-Temporarily-Shut-Down-Production/default.aspx

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