The Swedish company Electrolux decided to finally leave Russia and sell its business in the country to local entrepreneurs, the manufacturer of household appliances announced on Friday, Reuters reports.
"Electrolux has no production in Russia and will not supply any appliances to the divested company," the statement reads.
The company suspended operations in Russia after February 24, suffering a capital loss of about SEK 350 million ($32.55 million) based on July-September sales.
- Electrolux sales in Russia accounted for 1.6% of the companyʼs sales in 2021.