Alimak Group initiates exit from Russia

In the light of recent events and of European Union sanctions, Alimak Group has decided to exit its operations in Russia. 

Alimak Group announced on March 4^th, that it will suspend all deliveries to customers in Russia and not to pursue any new sales. Today, the Group has decided to initiate an exit from Russia. 

“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”, says Ole Kristian Jødahl, CEO at Alimak Group. 

The Group has 15 employees in Russia. The exit process will be executed with considerations towards employees and customers. 

These actions are not expected to have any material impact on Group financials.