Hempel Successfully Divests Assets in Russia to Atomstroykomplex

Hempel Successfully Divests Assets in Russia to Atomstroykomplex

(IN BRIEF) Hempel, a global coatings manufacturer, has successfully completed the divestment of its assets in Russia. The company obtained the necessary approvals from both Danish and Russian authorities for the transaction. Atomstroykomplex has acquired Hempel’s legal entity in Russia, including its assets and employees. However, the sale does not include any active business operations. Since announcing its intentions to exit the Russian market in April 2022, Hempel has been actively seeking a suitable buyer for its assets. The completion of the sale marks a significant milestone for the company, with satisfaction over obtaining the required approvals. The specific terms of the transaction have not been disclosed.

(PRESS RELEASE) LYNGBY, 14-Jul-2023 — /EuropaWire/ — 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.

About Hempel

As a world-leading supplier of trusted coating solutions, Hempel is a global company with strong values, working with customers in the decorative, marine, infrastructure and energy industries. Hempel factories, R&D centres and stock points are established in every region.

Across the globe, Hempel’s paints and coatings can be found in almost every country of the world. They protect and beautify buildings, infrastructure and other assets, and play an essential role in our customers’ businesses. They help minimise maintenance costs, improve aesthetics and increase energy efficiency.

At Hempel, our purpose is to shape a brighter future with sustainable coating solutions. We firmly believe that we will succeed as a business only if we place sustainability at our heart. Not only is it the right thing to do, it will strengthen our competitive position, make ourselves more resilient and reduce our risk.

Hempel was founded in Copenhagen, Denmark in 1915. It is proudly owned by the Hempel Foundation, which ensures a solid economic base for the Hempel Group and supports cultural, social, humanitarian and scientific purposes around the world.

About Atomstroykomplex

Atomstroykomplex is a leading real estate development and building materials company based in Yekaterinburg in the Ural Federal District. Atomstroykomplex entered the market in 1995 and consists of construction companies, building materials production plants, a fleet of up-to-date road-building vehicles and machinery, design offices, real estate agency and housing maintenance office.

The core operations include construction of industrial, commercial, housing and socially significant facilities, performance of general civil construction, specialty contractor works and road works. The company provides general contracting and engineering services for the construction industry in Yekaterinburg and Sverdlovsk region.

Media Contact:

Joanna Ashmead
Head of Media Relations
Tel: +45 30 77 28 16
Email: communications@hempel.com

SOURCE: Hempel A/S