VELUX Group permanently closes its operations in Russia and Belarus

VELUX Group has decided to permanently close its operations in Russia and Belarus. This decision follows VELUX Group’s suspension last month of all activities in Russia and Belarus in connection with the invasion of Ukraine.

VELUX Group will exit these two markets as soon as possible. During the coming month, all obligations to creditors and customers will be settled and employees will be dismissed. The Group will thereafter file for voluntary liquidation in Russia and Belarus so that its operations there can legally be de-listed. VELUX Group employs 72 people combined in sales offices in Russia and Belarus, but has neither production facilities nor properties in these countries. 

David Briggs, CEO of VELUX Group: For some time, we have been considering our position in Russia and Belarus. With the invasion of Ukraine, we suspended all our activities in Russia and Belarus, as we neither could nor would continue our activities in these two countries, given the seriousness of the situation. We have now made a decision to quickly and legally close our activities permanently. Our current status with ‘suspended activities’ does not afford any legal protection and can potentially place our employees at risk. 

Since we suspended our operations, the situation has substantially deteriorated. In conjunction with heightened counter-sanctions and a changing legal landscape in Russia, it is becoming increasingly difficult to keep our operations idle while waiting for clarity. We deeply regret the consequences this decision will have on our skilled employees and will ensure that they all receive fair severance as thanks for their dedicated efforts during many years.

All Ukrainian activities remain on hold 

VELUX Group’s position in Ukraine remains for the most part unchanged. VELUX Group’s operations continue to be on hold and we continue to pay salaries to our employees, who have all been sent home. However, in support of our employees and based on the Ukrainian government’s request, we have allowed limited deliveries of our products in safe areas of the country and will continue to pay our taxes and salaries until further notice.