Alimak exits Russia

Alimak Group is stopping all its operations in Russia and pulling its business out of the country. 

The Sweden-based company said that it had made the decision to exit Russia, due to recent events and following European Union sanctions. This latest development follows Alimak’s annoucement in early March that it had suspended all deliveries to customers in Russia and would not to pursue any new sales. 

Ole Kristian Jødahl, CEO at Alimak Group, said, “In the light of recent developments, we have evaluated the situation and decided to exit our Russian operations. We have initiated a controlled exit process and we will do our utmost to ensure that our employees in Russia are taken care of in the best possible way during this process.” 

Alimak has 15 employees in Russia and the company said the process will be executed with considerations towards those employees and its customers.

The company added that the actions are not expected to have any material impact on group financial results.