Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exited Exit Completed
Grundfos is the largest pump manufacturer in the world, based in Denmark, with more than 19,000 employees globally. The annual production of more than 16 million pump units, circulator pumps, submersible pumps, and centrifugal pumps.
Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exited Exit CompletedIndividuals from the local management of the company in Russia are poised to take over the activities in Russia and Belarus. The new owners will acquire two companies in Russia, but won’t be allowed to use the brand name or intellectual property rights, which fully belong to Grundfos.
Closes business in Russia and Belarus: The decision to fully close business in Russia and Belarus is reflected in the upcoming announcement of Grundfos’ half-year results. A significant one-off cost of DKK 851m related to the closing of business in Russia and Belarus will be reported. 03.2024: ISTRATECH GROUP LLC becomes the new founder of the organization LLC "Grundfos Istra". The entry about the founder of GRUNDFOS HOLDING A/S was removed from the Unified State Register of Legal Entities. Another legal entity LLC "Grundfos" (tax id 5042054367) continued to work. Grundfos has completed the divestment of its Russian business, marking the end of Grundfos’ presence in Russia. The company has not actively conducted any business in Russia for more than two years, and now, Grundfos has officially divested its Russian sales and production companies. 14.06.2024: VANDYORD GROUP LLC becomes the new founder of the organization. The entry about the founder of GRUNDFOS GMBH has been removed from the Unified State Register of Legal Entities.