Kronospan confirms the separation of its business in Russia

Liechtenstein - Tuesday, 4 April 2023

Over the past year Kronospan has completed a strategic review of its business activities in Russia and decided to separate out all business activities in Russia to Causa Foundation. The management of the Russian companies has been handed over to the local management team. The main separation was completed with effective date 31 August 2022.

Now that the business in Russia has been separated out, Kronospan is in discussions with the local management team to stop the use of the Kronospan name in Russia. The goal is that the former Kronospan operations in Russia rebrand and continue operating separately from Kronospan.

Kronospan’s businesses outside of Russia are unaffected by the separation and will continue to execute their business focusing on achieving operational excellence with a relentless focus on safety and sustainability; developing and producing environmentally friendly carbon negative products for interior finishing, furniture and building from wood.

Kronospan operates two manufacturing facilities in Ukraine. Our Ukrainian business will remain part of Kronospan and we are strongly supporting our employees on the ground. Through the Kronospan Foundation we continue to engage in numerous activities to provide help to those in need, including providing logistic support to deliver humanitarian aid.

We want to use this opportunity to thank all of our employees for the enormous effort and commitment they have shown over this last very challenging year. We sincerely hope that the conflict in Ukraine will come to a peaceful resolution soon.

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