As a consequence of the war in Ukraine, Teknos is planning a controlled exit from the Russian market.
Teknos Group has announced a controlled exit from the Russian market following the war in Ukraine and the evolution of the situation. On March 4, the Group announced the suspension of its activities in Russia, which have been open since 2015, and on April 12, measures to scale the activities were implemented.
“We are sad to see the war in Ukraine continue to unfold. Due to evolution of the situation and circumstances, we do not see any possibility to conduct our business in this environment. Taking into consideration the worsening local business conditions, we have decided to start planning an exit from Russian market. I want to thank our employees for their commitment and all business partners for cooperation and trust. Our aim is to find an entity that may carry on the business”, Paula Salastie, Teknos CEO and owner of Teknos Group says.