HELSINKI: Sweden’s Electrolux has decided to exit Russia and sell its business in the country to the local management, the home appliance maker said today.
“Electrolux has no production in Russia and will not supply any appliances to the divested company,” it said in a statement.
The company, which had paused operations in Russia following the country’s attack on Ukraine, would book a capital loss of some 350 million Swedish crowns in its July-September results from the sale, it said.
Electrolux sales in Russia accounted for 1.6% of group sales in 2021.