Company signs agreement to sell deconsolidated business to local management team
HOLCIM have signed an agreement to sell their business in Russia to the local management team. With its new owners, the business will operate independently under a different brand. Closing of the transaction will be subject to regulatory approvals.
The Russian business has been deconsolidated since March 2022 when the company decided to exit the Russian market. The divestment completes Holcim’s market exit from Russia in line with the company’s values to operate in the most responsible manner.
Holcim say they remain committed to supporting their employees throughout this process and ensuring an orderly transfer for their customers and relevant parties. The divestment has no significant financial or business impact on Holcim, as the company generated less than 1% of Group net sales and recurring EBIT in Russia in 2021.