Alimak to Shut Down Its Operations in Russia

Industrial and construction-based elevator manufacturer Alimak Group announced April 26 that it will exit Russia. Alimak says it is making the move in light of recent events regarding Russia’s military action in Ukraine, and European Union sanctions in connection with the tense situation. Alimak on March 4 said it would suspend all deliveries to customers in Russia and not pursue any new sales. The April announcement affirms that the company has decided to initiate an exit from Russia. “In the light of recent developments, we have evaluated the situation and decided to exit our Russian operations,” said Ole Kristian Jødahl, CEO at Alimak Group. “We have initiated a controlled exit process and we will do our utmost to ensure that our employees in Russia are taken care of in the best possible way during this process.” Alimak has 15 employees in Russia, and the exit process will be with consideration toward workers and customers. These actions are not expected to have any material impact on the company, officials said. Alimak Group, headquartered in Stockholm, Sweden, has offices in a number of countries and provides a range of vertical-transportation parts and services chiefly in industrial and construction areas. For more information, contact the company via email at Alimak Group.