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After announcing in March that it would scale down its operations in Russia in a controlled manner, REHAU Group will now sell its business in the country to the local management and withdraw completely.
REHAU, headquartered in Muri, Switzerland, wrote in a news release that it has been active in Russia for 30 years serving the market with polymer-based solutions. In March, the group condemned Russia’s attack on Ukraine while announcing that it would suspend operations in the country as well as in Belarus.
Companies with operations in Russia have been concerned about employee welfare throughout the course of the conflict. With its March announcement, REHAU highlighted multiple avenues for support that included an emergency aid fund and an account for donations from its 20,000 employees around the world.
The group wrote in its most recent release that developments in past weeks resulted in the “unavoidable” decision to sell its business in Russia to the local management. Both parties have already signed a corresponding preliminary agreement.
REHAU is just one of many companies that have suspended operations and closed shop in Russia since the country invaded Ukraine in February 2022. That includes VELUX Group, which closed operations in Russia and Belarus toward the beginning of April. Koch Industries, the parent company of Guardian Glass, took similar actions toward the end of April.
In April 2022, Koch announced that float operations would remain open lest the Russian government take control and benefit from the facilities. Koch also cited employee safety as a reason for keeping the facilities operational as the Russian government threatened criminal prosecution for employees of manufacturing facilities that cease operations. Koch Industries instructed employees to shut down its two glass plants in Russia at the end of April.
The REHAU Group includes Meraxis, New Ventures, RAUMEDIC, REHAU Automotive and REHAU Industries.
