Building materials manufacturer Knauf will transfer its business in Russia to local management

It reports “the company’s desire to transfer all businesses in Russia, including raw material extraction, production and sales, under local management to preserve the jobs of its more than 4,000 employees in the future.”

Knauf also noted that the deal must be approved by Russian authorities.

In early April, German publication Monitor reported that Knauf had supplied materials for restoration work in Mariupol. This conclusion was based on photographs of works on which products with the Knauf logo could be seen.

The company reported that it has not supplied EU construction materials to Russia since the start of the Russian special operation in Ukraine.

• Knauf has been working in Russia for more than 30 years. Knauf bought his first asset in Russia in 1993; became shares of a thermal insulation and gypsum products plant in Krasnogorsk. Subsequently, the company opened factories in the Krasnodar Territory, Astrakhan, Nizhny Novgorod, Tula, Chelyabinsk and other regions.
• Knauf companies produce gypsum-cement construction mixtures, metal profiles, plasterboard, mineral wool insulation, etc. The company also has mining assets. In total, Knauf has 14 production centers in the country.