Brief: ITAB Discontinues Its Operations In Russia

Itab AB

09/03/2022 12:04

March 9 (Reuters) - ITAB Shop Concept AB  ITAB.ST :
    * ITAB DISCONTINUES ITS OPERATIONS IN RUSSIA
    * TO DISCONTINUE ITS OPERATIONS IN RUSSIA DUE TO ONGOING
INVASION
OF UKRAINE.
    * HAS A PRODUCTION FACILITY AND SALES OFFICES IN RUSSIA WITH
A
TOTAL OF APPROXIMATELY 125 EMPLOYEES.
    * CURRENTLY HAS NO OPERATIONS IN UKRAINE
    * DECOMMISSIONING PROCESS BEGINS IMMEDIATELY WITH DUE
CONSIDERATIONS TOWARDS EMPLOYEES, CUSTOMERS, AND BUSINESS
PARTNERS.
    * TOTAL SALES IN RUSSIA AMOUNTED TO APPROXIMATELY SEK 170
MILLION
IN 2021, WHICH CORRESPONDS TO APPROXIMATELY 2.5 % ANNUAL SALES
    * DECOMMISSIONING MAY INVOLVE SOME WRITE-DOWNS

Source text for Eikon:  ID:nWkr3gyzD9 
Further company coverage:  ITAB.ST 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))