Smurfit Kappa said today that it has completed its exit from the Russian market.

The company's operations there had included a bag-in-box facility and two corrugated plants in St Petersburg as well as a corrugated plant in Moscow.

The group had announced its intention to exit the Russian market in an "orderly manner" last April and subsequently entered into an agreement to sell its Russian operations to local management.

In a short statement today, it said that after the approval of the Russian authorities and the completion of all necessary administrative processes, its operations in Russia have now been sold to local management.