MOSCOW, June 10 The Swedish company Essity, which produces personal care products and owns the Zewa, Libresse and Libero brands, has transferred the right to manage its facilities in Russia to local shareholders, while the deal will not affect the cost of products and assortment, the Ministry of Industry and Trade of the Russian Federation said.
Earlier on Saturday, Essity announced that it would cease operations in Russia and sell its business in the country. The transaction is expected to close upon receipt of final cash in the second quarter of 2023.
“Indeed, the leadership 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 enterprise will continue its activities, and this decision will not affect the range and volume of products, will not affect its value,” they said.
The ministry also noted that jobs at enterprises will be preserved. At the same time, the Ministry of Industry and Trade is closely monitoring the process of transferring rights and the further work of enterprises, being in constant contact with the new owners.
In turn CEO of Online Patent Alina Akinshina previously told the agency that if Essity decides not to transfer patent rights in Russia, then the domestic company, given the complete cessation of patent activity of the Swedish copyright holder in the country, will be able to produce later Essity developments without infringing patents. rights — as soon as the deadlines for entering the national phase in the Russian Federation under such patents of a Swedish company expire.
Essity manufactures personal care products. Sales are conducted in approximately 150 countries worldwide under the brands TENA, Tork, JOBST, Leukoplast, Libero, Libresse, Lotus, Nosotras, Saba, Tempo, Vinda and Zewa.