Rehau a fenestration systems company has announced that it is selling it premises in Russia and is ceasing trading there altogether because of the war. The war has shocked the world and has affected thousands of people’s lives as well as sectors all around the globe. Rehau was one of the first fenestration companies to cease trading in Russia when the war began and have now decided to sell up altogether.
Below is the statement they released on their official website –
“The REHAU Group will sell its business in Russia to the local management and will withdraw completely from the country. A corresponding preliminary agreement has now been signed by both parties.
REHAU had already announced on March 4, 2022, to ramp down its business in Russia in a controlled manner. The development of the past weeks has made further decisions unavoidable.
The REHAU Group has been active in Russia for around 30 years and has served the market there primarily with polymer-based solutions for the window, construction and furniture sectors.”
Rehau aren’t the only fenestration company that have pulled out of Russia with Veka having currently ceased trading in the country, they however have not sold up yet. We have also seen big companies from other industries sell up and leave the most notable being McDonalds.
As the war unfortunately continues more moves like this will be seen across our industry and many others which hopefully can go some way in helping to end the war altogether.
Our thoughts are with all of those affected by the war and hope it will come to an end as soon as possible.
The Countrywide Windows Team.