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Coatings leader Hempel has completed the sale of its Russian subsidiary after obtaining necessary approvals from relevant authorities.
July 13, 2023
By: DAVID SAVASTANO
Editor, Ink World Magazine
Hempel has completed a divestment of its assets in Russia, after having obtained the relevant approvals from the Danish and Russian authorities. Atomstroykomplex has acquired Hempel’s legal entity in Russia, including its assets and employees. No active business is included in the sale. “Since announcing our intentions to exit Russia in April 2022, we have worked to find a suitable buyer for our Russian assets,” says Michael Hansen, group president and CEO of Hempel. “I want to extend my thanks to the dedicated team of Hempel colleagues that has worked diligently to reach this milestone. We are satisfied that the sale is now completed, with relevant approvals from the Danish and Russian authorities.” The terms of the transaction will not be disclosed.
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