IMCD announced the decision to discontinue business in Russia and close its offices in St. Petersburg and Moscow.
Following IMCD’s decision in early March to suspend import and export operations in Russia and scale down the local business due to increasing international sanctions, the Management Board of IMCD N.V. has now announced the decision to stop its business in the country and close its offices in St. Petersburg and Moscow.
IMCD will wind down its operations and continue to support the employees in its Russian offices throughout the transition process. Upon completion, IMCD will no longer have a presence in Russia.
“The discontinuation of activities in Russia has no material impact on IMCD’s results for 2022”, stated the company.