Hempel announced this month it will exit from Russia following a strategic review. Hempel has had a presence in Russia since 1996 and employs 124 employees there.

The company announced in March the cessation of its operations in Russia, including stopping all deliveries, refusing receipt of orders and completing a safe closure of its production in Ulyanovsk.

“We are deeply saddened to watch the war in Ukraine continue to unfold. In March, we suspended our activities in Russia, based on the increasingly difficult trading environment. We have now made the decision to step away from our business in Russia,” said Hempel Group President and CEO Lars Petersson. “We will do our utmost to safeguard the future employment of our colleagues in Russia and we thank them for their loyal service to Hempel. Our focus continues to be on the support and safety of our employees in the region and while we regret this outcome, we feel we do not have any other option.”