
Grundfos quits Russia and Belarus
The Danish pump maker Grundfos has signed a contract to transfer ownership of its assets and legal entities to local management in Russia and Belarus.
This comes after Grundfos’ declaration to completely leave Russia and Belarus in August 2022.
The deal enables the new proprietors to operate a non-Grundfos company in Russia and Belarus.
The Grundfos name and other Grundfos intellectual property are not included in the divestiture and will continue to be entirely owned by Grundfos.
In addition to thanking its previous partners and clients for their valuable collaboration over the years, Grundfos also acknowledged the devotion of its Russian and Belarussian coworkers.
The European Union, Denmark, and any other relevant authorities must all approve the agreement before it becomes effective. By the end of the first quarter of 2023, Grundfos anticipates the approval procedure to be finished.
Source: Grundfos