26.01.2023, 08:41
French manufacturer of electrical equipment Legrand decided to leave Russia
Source: OREANDA-NEWS
OREANDA-NEWS The French manufacturer of electrical equipment Legrand decided to withdraw from the Russian market. This is reported on the company's website.
It is explained that the organization is winding down its presence "due to recent events, including growing operational complexity and uncertainty." Legrand is currently exploring options for an orderly transfer of its assets. The company estimates the losses from leaving at 150 million euros.
Legrand held 1.5 percent of the Russian electrical goods market in 2022.
On December 14, 2022, it became known that the largest cement producer in the world, Swiss Holcim, will transfer the Russian business to local management. Former Holcim enterprises in Russia will continue to operate under the new brand. The press service stressed that after signing the relevant agreement with the management, the procedure for the company's exit from the Russian market was completed.
It is explained that the organization is winding down its presence "due to recent events, including growing operational complexity and uncertainty." Legrand is currently exploring options for an orderly transfer of its assets. The company estimates the losses from leaving at 150 million euros.
Legrand held 1.5 percent of the Russian electrical goods market in 2022.
On December 14, 2022, it became known that the largest cement producer in the world, Swiss Holcim, will transfer the Russian business to local management. Former Holcim enterprises in Russia will continue to operate under the new brand. The press service stressed that after signing the relevant agreement with the management, the procedure for the company's exit from the Russian market was completed.
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