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Ponsse decides to divest its operations in Russia
Ponsse has decided to divest its operations in Russia. The divestment of all shares in OOO Ponsse, Ponsse Group’s subsidiary providing PONSSE services in Russia and Belarus, is currently being negotiated.
“We have been looking for a solution to the challenging situation regarding operations in Russia. We have decided to divest our operations in Russia and Belarus. Operating in Russia has become very difficult, and the divestment is also the best option for our local personnel, customers and dealers. We will continue the export restrictions in accordance with economic sanctions and our company’s guidelines,” says Juho Nummela, President and CEO of Ponsse Group.
The signing will be completed in the near future, and it will be announced separately.
Ponsse’s export and service operations in Russia have been suspended since 2 March 2022 when the company announced that it will suspend all exports to Russia and Belarus. At the same time, OOO Ponsse suspended its local spare parts and maintenance services.
Vieremä, 15 June 2022
President and CEO
Juho Nummela, President and CEO, tel. +358 400 495 690
Nasdaq Helsinki Ltd
Ponsse Plc specialises in the sale, production, maintenance and technology of cut-to-length method forest machines and is driven by a genuine interest in its customers and their business operations. Ponsse develops and manufactures sustainable and innovative harvesting solutions based on customer needs.
The company was established by forest machine entrepreneur Einari Vidgrén in 1970 and has been a leader in timber harvesting solutions based on the cut-to-length method ever since. Ponsse is headquartered in Vieremä, Finland. The company’s shares are quoted on the NASDAQ OMX Nordic List.