Rehau Group sells its business in Russia
The move is a response to the Russian invasion of Ukraine.
Global polymer processing company Rehau Group is selling its business in Russia to the local management and will withdraw completely from the country.
A corresponding preliminary agreement has now been signed by both parties, Rehau officials said.
The move comes on the heels of Rehau’s announcement on March 4 that it would “ramp down its business in Russia in a controlled manner” in response to the Russian invasion of Ukraine. Rehau suspended its operations in Russia in March.
“The development of the past weeks has made further decisions unavoidable,” the company said in a May 24 news release.
Switzerland-based Rehau has been active in Russia for around 30 years and has served the market there primarily with polymer-based solutions for the window, construction, and furniture sectors. The company also operates in Ukraine.