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Daily News / Global Trends / Market Analysis / Forestry / Sawmilling / Statistics / Wood Products / Europe / Global / Russia
February 28, 2022

Finnish forest technology manufacturer cancels orders to Russia due to sanctions

Finnish forest technology manufacturer cancels orders to Russia due to sanctions
Kesla, a manufacturer of forest machine technology, has canceled deliveries of approximately EUR 10 million from its order backlog to the Russian company Amkodor-Onegon. As a result of the decision, the company will record a total expense and impairment provision of EUR 280,000 for the current quarter.    The withdrawal is justified by the sanctions already in force, the interpretation of which has been clarified. The development of the geopolitical situation also contributed to this.    The company says it is preparing for the sanctions in the Russian market and the barriers ...

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