The Management Board of IMCD has decided to discontinue business in Russia and close its offices in Saint Petersburg and Moscow. This follows IMCD’s decision of early March to suspend import and export operations in Russia and scale down the local business due to increasing international sanctions.
IMCD will wind down its operations and continue to support the employees in its Russian offices throughout the transition process. Upon completion, IMCD will no longer have a presence in Russia. The discontinuation of activities in Russia has no material impact on IMCD’s results for 2022.
IMCD, based in Rotterdam, the Netherlands, is a market leader in the marketing, sales, and distribution of speciality chemicals and ingredients. In 2021 the company realised revenues o 3,435 million euros in 2021 with more than 3,700 employees in over 50 countries on six continents.