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VESTAS

Danish wind turbine maker Vestas pulls out of Russia

Following a slew of Western companies, Danish wind turbine manufacturer Vestas said Tuesday it would withdraw from Russia, where it has two factories, over the country's invasion of Ukraine.

Published: 6 April 2022 11:16 CEST
Vestas HQ in Aarhus
Vestas HQ in Aarhus. File photo: Henning Bagger/Ritzau Scanpix

The move was announced as the company held its annual general meeting.

“In light of the invasion, Vestas stopped new commercial activity in Russia in early March. After this decision, Vestas began reviewing different scenarios,” the company said in a statement sent to AFP.

Vestas added that the company condemned the invasion and “the atrocities reportedly committed by the Russian army”.

“Following this review and how the situation has evolved, we have taken the decision to withdraw from Russia,” it added.

According to the company, Vestas has installed wind power capacity of 1 gigawatt (GW) in Russia, compared to the 151 GW installed in 86 markets globally.

Vestas has two factories in Russia, which have mainly supplied wind projects in the country.

“The withdrawal aims to ensure the safety and livelihood of our employees in Russia as well as safeguard Vestas’ interests through an orderly transfer of our business in compliance with international and local law, which entails certain activities may continue during a transition period,” the company said.

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CARLSBERG

Carlsberg’s breweries in Russia seized as new board put in place by Moscow

Danish brewer Carlsberg has lost control of its Russian business after authorities in Russia put new temporary management in place.

Published: 19 July 2023 13:27 CEST
Carlsberg’s breweries in Russia seized as new board put in place by Moscow

Carlsberg confirmed the development in a press statement on Wednesday.

“The change of leadership was conducted without Carlsberg Group’s knowledge or approval,” the company said.

The announcement comes after Russian president Vladimir Putin on Sunday signed a decree ordering authorities in the country to seize Carlsberg’s subsidiary company Baltika Breweries.

Carlsberg said Sunday that it was aware of the decree but had not received official confirmation from Moscow.

READ ALSO: Danish brewer Carlsberg posts loss after Russia exit

The Danish brewer had been in the process of selling its Russian arm Baltika, but the future of this sale is now uncertain.

Carlsberg has sought a buyer for its Russian operations since the invasion of Ukraine by Moscow in February last year.

Last month, it announced an agreement had been signed but did not confirm the identity of the buyer. It stated it wanted “approval processes to be completed as smoothly as possible”.

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