Kährs (Malmö, Sweden) has begun exploring opportunities and conditions for selling its operations in Russia.
The Russian segment of the company’s business represents approximately 6-7% of its revenue and 10% of its operating profit. The Russian operations include sales and a wood flooring production facility with 300 employees.
All financial transactions and flows of goods between Kährs’ Russian company and the rest of Kährs have been at a standstill since Russia’s invasion of Ukraine in February 2022. The company announced in August it would begin evaluating plans to divest its Russian operations.
“The war in Ukraine has had a limited impact on Kährs' operations outside of Russia, while the Russian unit has been isolated within Kährs to operate solely within Russia's borders,” the company said in a statement. Kährs also said it has been closely following all sanctions on Russia that have been imposed since the war.
Kährs’ largest markets include Sweden, Germany, the U.S., Finland, Norway, Russia and England.
