Rockwool’s “Temporary Managers” Transfer 600 Million Rubles to the "All-Russia People’s Front"

The Russian factories of the Danish company Rockwool have transferred 600 million rubles to the All-Russia People’s Front (ONF). Earlier, the factories were effectively nationalized by decree of President Vladimir Putin.

On December 31, 2025, Vladimir Putin signed a decree on the de facto nationalization of the Russian assets of the Danish company Rockwool and the Polish-American company CanPack. Rockwool’s Russian business was placed under “temporary management” by a newly created joint-stock company, Razvitie Stroitelnykh Aktivov (Development of Construction Assets), established in September 2025.

According to a press release issued by the new manager of Rockwool’s Russian assets, the 600 million rubles (approximately €6.5 million) transferred to the ONF will fund assistance programs for participants in the so-called “special military operation” and their families. The funds are expected to be used to purchase buggies, quad bikes, communications equipment, reconnaissance drones, and electronic warfare systems. In the coming months, Rockwool’s Russian factories are also expected to resume cooperation with the military-industrial complex, which had been suspended after 2022.

Rockwool’s Russian assets comprise four companies: Rockwool (Moscow Region), Rockwool-Sever (Leningrad Region), Rockwool-Ural (Chelyabinsk Region), and Rockwool-Volga (Republic of Tatarstan).

Rockwool is one of the world’s largest manufacturers of mineral wool insulation materials and ranks among Denmark’s top 20 companies by market capitalization.

Immediately after Russia’s full-scale invasion of Ukraine, on March 4, 2022, Rockwool announced it would continue operating in Russia while complying with sanctions. The company described this approach as “passive ownership.”

As previously reported by Chronicles.Media, the Danish parent company continued interacting with its Russian subsidiaries up until the effective nationalization: it received dividends, supplied raw materials, purchased goods produced by Russian factories during the first years of the invasion, and continued exchanging consulting services until recently. Between 2021 and 2024, the combined revenue of Rockwool’s Russian factories increased by 57%, while net profit rose by 77%.

A few days ago, Timur Amirov, CEO of Razvitie Stroitelnykh Aktivov, stated that Rockwool shareholders had been offered the opportunity to sell their Russian assets “instead of losing them entirely.” Under Russian legislation, the sale of assets by foreign owners requires a 60% discount from market value and the payment of a “voluntary contribution” to the federal budget equal to 35% of the asset’s market value. If the Danish owners refuse the offer, Amirov did not rule out full nationalization.

The All-Russia People’s Front is a coalition of socio-political organizations established at the initiative of Vladimir Putin. Among its members is the ruling United Russia party. Since 2023, the ONF has been under European Union sanctions.

It is also worth noting that in early February 2026, the Russian entities of aluminum packaging manufacturer CanPack — nationalized alongside Rockwool’s factories — announced the transfer of 500 million rubles (approximately €5.5 million) to the charity foundation “People’s Front. Everything for Victory,” created by the ONF in 2014, when Russia annexed Crimea and launched armed hostilities in eastern Ukraine.

Chronicles.Media Team