In a statement released, the industrial gases giant said it had signed a memorandum of understanding with its local management team to transfer its Russian operations through a management buyout. Earlier this year (March 2022), Air Liquide said it was imposing “strict” international sanctions on Russia. The company also halted all foreign investment and large-scale development projects in the country.
Air Liquide’s decision to withdraw its operations in Russia is the result of the ongoing war between Russia and Ukraine. Many other companies have made similar moves. Air Liquide’s actions are subject to Russian regulatory approval. At the same time, due to the evolving geopolitical environment, the group’s activities in Russia will no longer be integrated from 1. It is understood that Air Liquide has nearly 720 employees in Russia, and its turnover in the country is less than 1% of the company’s turnover. The project of divestment to local managers aims to enable an orderly, sustainable and responsible transfer of its activities in Russia, in particular to ensure the continuity of the supply of oxygen to hospitals.
Post time: Sep-20-2022
