MAKROchem Terminates Carbon Black Operations in Russia

On August 11, 2023, the MAKROchem Group closed its representative office in Russia.

The Management Board of the MAKROchem Group has decided to sell all shares in the subsidiary in Russia by the end of 2023. Preparations are currently underway to conclude an appropriate agreement, and MAKROchem will inform about the final sale of shares in a special announcement.

The existing import of carbon black is carried out in accordance with the law, i.e. within the quota established by Council Regulation (EU) 2023/427 of February 25, 2023, enabling the purchase and transport of carbon black to the European Union until June 30, 2024.

As of June 30, 2024, in accordance with the provisions of the sanctions package, MAKROchem will stop importing carbon black from Russia. The above means that from July 1, 2024, the MAKROchem Group will completely terminate business relations with the Russian Federation.

Source: MAKROchem