REHAU Group withdraws from Russia

Germany's REHAU Group, the world's leading supplier of polymer systems, announced yesterday that it will sell its operations in Russia to local management and exit Russia entirely
.
The company said in a press release that the two parties have signed a preliminary agreement
.

The withdrawal comes after the group announced on March 4 that it would scale back its operations in Russia in a controlled manner in response to Russia's invasion of Ukraine
.
"Developments over the past few weeks make further decisions inevitable
," Rehau said
.

REHAU Group has been active in the Russian market for almost 30 years, mainly providing polymer solutions there for the window, building and furniture industries
.
The company also has operations in Ukraine and Belarus
.
In March, the company suspended operations in Belarus
.
A previously issued press release did not mention any further impact on the agency's presence in Belarus beyond the suspension
.

REHAU is a privately held company established in 1948
.
Today, it employs more than 20,000 people in more than 190 factories around the world
.
The global headquarters is in Muri, Switzerland
.

The group develops and manufactures polymer products for the automotive, construction, furniture, materials, medical and industrial sectors
.
Its medical division, Raumedic, located in Helmbrechts, Germany, provides extrusion, injection molding and assembly services to global medical device OEMs
.
In April 2016, the company began operations at its North American headquarters in Mills River, North Carolina, the company's only production facility outside of Germany
.