As a result of the Russian attack on Ukraine, which has caused a major impact on international security and stability, we at Eltete TPM Group have also needed to take decisions on how to continue our operations in the conflict areas. We have been fully aligned with and strictly following EU and international guidelines around the implementation of sanctions against Russia.
After deep consideration and sadness, Eltete TPM Group has decided on 15 June 2022, to divest operations and sell* its production plant in Russia where we have been present for 22 years.
Eltete Group management has by this action and the political situation left the Russian market for good.
Any changes in the Russian territory will not affect our supply from Finland to customers in other countries as our raw material and energy is secured from local markets.
We hope that the military conflict will be ended so that stability, safety, and security for those affected will return.
*Please note: Local ownership and operation will provide a solution for their respective employees.
