The Swedish manufacturer of ventilation systems Lindab completely left the Russian market
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The manufacturer of ventilation systems from Sweden, Lindab, has completed the process of exiting the Russian market, the company’s press service said. The former Russian branch will change its name and work with local suppliers.
“As of August 1, Lindab has no operations, sales or purchases in Russia. As part of the exit process, the Russian subsidiary of Lindab was sold to the company’s local managing director. The Russian company will change its name and will continue to work with local suppliers,” the statement said. statement companies.
The company recalled that it estimated the one-time costs due to leaving Russia at 19 million crowns ($1.9 million). Lindab expects final spending of 22 million crowns ($2.2 million), 3 million crowns ($300,000) to impact Q3 2022 results.
Lindab is one of the largest manufacturers of ventilation systems in Europe. The company specializes in systems for energy-efficient ventilation and creating a favorable indoor climate.
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