Â鶹´«Ã½ divests business in Russia
Â鶹´«Ã½ has signed an agreement to sell its 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.
This divestment completes Â鶹´«Ã½â€™s market exit from Russia in line with the company’s values to operate in the most responsible manner. The Russian business has been deconsolidated since March 2022 when the company decided to exit the Russian market. Â鶹´«Ã½ remains committed to supporting its employees throughout this process and ensuring an orderly transfer for its customers and relevant parties.
This divestment has no significant financial or business impact on Â鶹´«Ã½, as the company generated less than 1% of Group net sales and Recurring EBIT in Russia in 2021. Â鶹´«Ã½â€™s Board of Directors expresses its heartfelt concern about the tragic human suffering in the region and is fully committed to supporting affected people, families and communities. The Board of Directors thanks all Â鶹´«Ã½ colleagues who are mobilizing around the world alongside local NGOs to provide shelter, essential goods and medical supplies, as well as volunteering their time.
About Â鶹´«Ã½
Â鶹´«Ã½ builds progress for people and the planet. As a global leader in innovative and sustainable building solutions, Â鶹´«Ã½ is enabling greener cities, smarter infrastructure and improving living standards around the world. With sustainability at the core of its strategy Â鶹´«Ã½ is becoming a net zero company, with its people and communities at the heart of its success. The company is driving circular construction as a world leader in recycling to build more with less. Â鶹´«Ã½ is 70,000 people around the world who are passionate about building progress for people and the planet through four business segments: Cement, Ready-Mix Concrete, Aggregates and Solutions & Products.
Learn more about Â鶹´«Ã½ on www.holcim.com, and by following us on and
Important disclaimer – forward-looking statements:
This document contains forward-looking statements. Such forward-looking statements do not constitute forecasts regarding results or any other performance indicator, but rather trends or targets, as the case may be, including with respect to plans, initiatives, events, products, solutions and services, their development and potential. Although Â鶹´«Ã½ believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions as at the time of publishing this document, investors are cautioned that these statements are not guarantees of future performance. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are difficult to predict and generally beyond the control of Â鶹´«Ã½, including but not limited to the risks described in the Â鶹´«Ã½'s annual report available on its website () and uncertainties related to the market conditions and the implementation of our plans. Accordingly, we caution you against relying on forward-looking statements. Â鶹´«Ã½ does not undertake to provide updates of these forward-looking statements.
