Finnish Post has sold the Russian division to Tablogix

Finnish state-owned Posti Group has announced the sale of the Russian division to Tablogix, the company said.

Earlier, in September 2020, it was reported that Posti was interested in selling its Russian subsidiary.

“Posti Group sold the companies of the Itella Russia business group to the international logistics service provider Tablogix. The parties agreed not to disclose the price, ”the message says.

Itella Russia employs about 1,000 employees who will be transferred to the new owner, the Finnish company said.

Thus, Jussi Kuutsa, General Director of Itella Russia, is leaving Posti Group.

Posti will focus on its core business in the Finnish, Swedish and Baltic markets.

The deal is not expected to affect Posti Group’s forecast for 2021, expecting net sales to rise to € 1.613 billion for the year, while operating profit will remain at € 186 million.