Company says it has ended its wind down process and discontinued business in Russia
FINLAND-based Metso Outotec have announced the completion of their withdrawal from Russia.
The company said it had not taken any new orders from the country since Russia’s attack on Ukraine in February 2022 and, to speed up the discontinuation of contracts made before the war, started negotiating with its non-sanctioned customers to wind down open contracts.
This wind-down process was completed in the first quarter of 2023 and Metso Outotec say they have since discontinued all business with Russia. To cover the costs of the wind-down process, the company booked a non-recurring charge of €150 million in the second quarter of 2022.
Metso Outotec say they have fully complied with all applicable sanctions against Russia throughout the process.