Sells Russian subsidiary to long-time partner
Blum stopped its deliveries to Russia immediately after the start of the war. The company continues to adhere to this decision and is selling its Russian subsidiary due to the ongoing uncertainties.
Due to the war situation in Ukraine, the Blum family business continues to adhere to its decision not to supply products to Russia. With no improvement in sight for the legally and economically uncertain situation in Russia, the Austrian hardware manufacturer has decided to sell its Russian subsidiary in Moscow. The buyers are two long-standing sales partners of Blum and have promised to take over the employees.
“With a view to our long-standing employees, customers and partners, we are taking this step with a heavy heart,” explains Philipp Blum, managing director of the Blum Group. “However, we hope that the furniture makers in Russia will be able to be supplied with our fittings again at some point, even if this point in time cannot be foreseen at the moment. For us, it is currently important that our colleagues on site continue to have a professional perspective and a secure livelihood.”