At the beginning of russia’s full-scale invasion of Ukraine, Henkel decided to stop doing business in russia. The official announcement had made on April 19, 2022. The closure process lasted a year.
On April 20, 2023, Henkel announced to sign an agreement to sell its operations in russia to a consortium of local financial investors. The agreed sale price is approximately EUR 600 million. The final closing is pending.
Despite the closure process, Henkel reports an increase in Group sales to approximately EUR 5.6 billion in the first quarter of 2023.
Henkel represents the Group in Ukraine. The products manufactured at four Ukrainian plants include the Ceresit brand polyurethane foams, adhesives, and sealants.