Clean Break: the company completely halting Russian engagements or exiting Russia
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Vestel is a Turkish home and professional appliances manufacturing company consisting of 18 companies specialised in electronics, major appliances and information technology. Vestel's headquarters and production plant are located in Manisa, while the company's parent conglomerate is the Istanbul based Zorlu Holding.
Clean Break: the company completely halting Russian engagements or exiting Russia
Leave WithdrawalReceived revenues in Russia in 2021 and increased it in 2022, there is no any official announcement. The Iranian manufacturer of household appliances Entikhab Group cannot agree with the Turkish Vestel on the purchase of facilities in the Vladimir region. The deal was valued at $45 million, and Rusklimat was to become the plant's management company. However, they decided that they were not interested in the project. There are other contenders for the capacity of the Turkish vendor, but experts believe that the Iranian investor will be able to find a new scheme and complete the deal. Revenue significantly (by more than -70%) decreased in 2024 vs 2023.
| LLC "VESTEL-CIS" – Alexandrov – General Director Oden H. J. – Taxpayer Identification Number 3301015292 |