Finnish woodworking company Ponsse sold its business in Russia – Kommersant
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On September 18, the Finnish manufacturer of wood processing equipment Ponsse completed the sale of its Russian subsidiary to the Bizon company. The transaction amount is not disclosed.
“Ponsse Plc has completed the sale of all shares of Ponsse LLC, its subsidiary that provided Ponsse services in Russia and Belarus. After fulfilling the terms of the transaction, Ponsse’s business operations in Russia were transferred to the Russian company Bizon LLC, and the transaction was approved by local authorities,” the statement says. message companies. It is noted that all Ponsse facilities, including warehouses for spare parts and repair vehicles, as well as personnel, have been transferred to the buyer.
Bizon LLC is owned by Alexey Voronkevich, whose company Dormashimport has been responsible for the retail sale of Ponsse forestry equipment in the eastern regions of Russia since 2007.
Ponsse announced its intention to withdraw its operations in Russia on June 15, 2022. Ponsse’s export and service operations in Russia have been suspended since March 2, 2022, when the company announced the suspension of all exports to Russia and Belarus. Ponsse’s sales in Russia and Belarus in 2021 accounted for about 20% of net sales, which amounted to €750 million.
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