Tikkurila announced its withdrawal from Russia

The American holding PPG Industries and the Finnish manufacturer of paints and varnishes Tikkurila, which is part of it, are curtailing their business in Russia due to the war in Ukraine.

“We are currently producing a minimum volume of sales [in Russia] sufficient to generate the required amount of local currency to pay our employees,” the Tikkurila website said in a statement. “Due to our inability to operate consistently even at this minimum level, PPG has made the decision to activate options to exit Russia, including a possible sale or controlled exit from the Russian market.”

The company also announced that it plans to donate net profits from operations in Russia in 2022 to non-profit organizations providing direct humanitarian assistance.

• Tikkurila, by its own statement, remains the leading paint company in Scandinavia. Its enterprises are located in 11 countries. In Russia, Tikkurila has three production sites, three training centers and 10 warehouses, employing about a thousand employees. Since June 2021, the company has been part of the American holding PPG Industries Inc.
• Since the beginning of the war in Ukraine, about 1,000 foreign companies have announced the suspension of work in Russia or the complete withdrawal from the country, calculated . the Yale School of Management