The Management Board of IMCD N.V. has decided to discontinue business in Russia and close its offices in St. Petersburg and Moscow. This follows IMCD’s decision of early March to suspend import and export operations in Russia and scale down the local business due to increasing international sanctions.
IMCD will wind down its operations and continue to support the employees in its Russian offices throughout the transition process. Upon completion, IMCD will no longer have a presence in Russia.
The discontinuation of activities in Russia has no material impact on IMCD’s results for 2022.