DUSSELDORF, Germany—Henkel A.G. & Co., which makes reactive polyurethane systems for pultrusion applications as well as a wide range of consumer products, is preparing to leave Russia.
The company employs 2,500 people in Russia and is working on "an orderly process" to leave the country. It has not yet been able to assess the financial impact that this will have on its business.
"Henkel condemns the Russian war against Ukraine and the violence against innocent civilians. Our priority remains to do everything we can to support our colleagues in Ukraine," CEO Carsten Knobel said.
Henkel has not set a specific timetable to fully leave Russia, saying the "execution process is now being prepared."
All employees in Russia will continue to be employed and paid during the process.
Knobel added that the company is offering financial donations, food, and material donations.