Building materials giant Holcim is selling its Russian operations to the management team there. The entity will then operate independently under another name. As Russia represents less than one percent of sales and operating profitability, the sale will have no impact on results.
The finalization of the operation will depend on the regulatory authorities, said a press release on Wednesday. This exit from the Russian market complements other measures taken previously following Russia’s invasion of Ukraine. Holcim has deconsolidated the Russian business since March 2022.
Development follows.
