2022-08-09 - Kährs Group Regulatory

Kährs BondCo AB (publ) evaluates a possible divestment of its operations in Russia

Kährs has, due to the prevailing market conditions, started a process to evaluate the possibilities and conditions for divesting its operations in Russia.

Already at the beginning of March 2022, Kährs decided to, in addition to sanctions, stop all investments as well as import and export flows from Europe to and from the company's operations and other suppliers in Russia. Kährs’ operations in Russia have continued, but at a lower level. The process of evaluating a divestment in a structured and responsible way, due to the changed market conditions, is now being initiated.

The business in Russia corresponds to approx. 6-7% of the revenue within Kährs Group and approx. 10% of the operating profit. Kährs has sales in Russia as well as a production facility for wood flooring. The operation includes a total of 300 employees in Russia.