- As a consequence of the Russia-Ukraine conflict, Wienerberger is withdrawing from the Russian market
- Management buy-out ensures continuity for local employees and customers
Vienna – As a company aware of its responsibility, the Wienerberger Group decided to sell its Russian operations on account of the Russia-Ukraine conflict. In recent weeks, Wienerberger has been working intensively on a sustainable solution in order to preserve the employees’ jobs and guarantee safety and stability for their families on site. It was therefore agreed that the local management will take over the Russian business through a management buy-out. The parties decided not to disclose the purchase price.
“We are deeply concerned over the effects of the conflict and want to make our contribution as a responsible company, taking a firm stance for freedom and peace. In line with our company’s actively pursued policy of sustainability and the commitment vis-à-vis our employees on site, we are convinced that the takeover of our activities by the local management is the best possible solution to ensure continuity for all”,
Wienerberger has been active in Russia since 2005. With a volume of approximately € 40 million per year, the clay block business in Russia accounts for less than 1% of the Group’s total revenues.