Clean Break: the company completely halting Russian engagements or exiting Russia

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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.

Clean Break: the company completely halting Russian engagements or exiting Russia

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Revenue(RF), mln.USD
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Individuals 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.

The Company Statement
January 05, 2023

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) continues to work.

March 20, 2024LLC "GRUNDFOS ISTRA" - Leshkovo village - General Director Slobodinsky A. A. - Taxpayer Identification Number 5017047704
November 30, 2022Yale's SOM List
August 24, 2022Grundfos closes its business in Russia and Belarus
March 20, 2022The world's largest manufacturer of pumping equipment suspends production at a plant in the Russian Federation
March 01, 2022Grundfos pauses its business activities in Russia
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