Coating manufacturer Hempel has decided to leave the Russian market due to Russia’s invasion of Ukraine. The company has previously suspended its Russian activities.
Denmark-based coating manufacturer Hempel seeks to withdraw from Russia, the company informs in a press release.
Company CEO Lars Petersson is deeply affected by the war in Ukriane.
”We have now made the decision to withdraw from our businesses in Russia,” he says in the announcement.
Hempel already suspended its activities in Russia in the beginning of March but now pulls out permanently.
Hempel was founded in 1915 and has been active in Russia since 1996. The firm has had 124 employees in Russia. In 2020, Hempel had 6,100 staff globally.
”We continue to focus on the support and safety of our employees in the region. Although it’s a sad outcome, we see no other way,” says Petersson.
In the statement, Hempel writes that it’s working on a controlled withdrawal from Russia.
Among other things, Hempel produces coating for ships and containers.
