Engineering company Valmet published more information about its withdrawal from Russia.
According to Valmet, the company has considered options for its withdrawal and initiated staff reductions in the country. As a result of the reductions, the number of Valmet’s personnel in Russia will be halved in the first phase of implementation.
In the spring of 2022, Valmet had approximately 140 employees in Russia.
Valmet plans to continue its withdrawal in stages and eventually leave Russia altogether.
Russia accounted for about two percent of Valmet’s total revenue last year. The company has no manufacturing production in Russia.