01 April 2022

Purmo Group has taken the decision to exit its business in Russia. The company will seek to divest and complete an orderly transfer of the business to a new owner, in compliance with international and local laws and giving consideration to the wellbeing of our employees in Russia. Upon completion of the divestment, the company will no longer have a manufacturing operation or sales in Russia.

From an accounting perspective, the Russian business will be treated as an asset held for sale until completion of the divestment. The business will be reassessed at fair value, which is not expected to have a material effect on the Group. The company will later on provide further details on the accounting impact of the planned disposal. 

Our thoughts are with the people of Ukraine, and we call for a peaceful ending to the conflict.

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