Mantsinen Group has been active in Russia for almost 25 years. Mantsinen ceased export operations to Russia immediately after Russia began a war of aggression into Ukraine. At the same time, the company began to investigate different options for continuation of operations of the Russian subsidiaries.
We are in the process of divesting our Russian businesses and are negotiating the sale of our subsidiaries. The main objective is to ensure a good solution for the Mantsinen Group and to ensure continuity for our local teams and customers. Negotiations with buyer candidates will be done as quickly as possible, but due to sanctions and constraints, it is difficult to predict an exact timetable, says Mia Mantsinen, the company’s CEO.
In the future, Russian companies will operate as independent companies and under a new name. Mantsinen Group will not continue its own operations in Russia after the sale of the companies. After the change, the Group’s only subsidiary is Mantsinen Sverige Ab in Sweden.