The Finnish engineering company Wärtsilä, a supplier of equipment for shipyards, has announced its completed withdrawal from Russia. Some of the company’s divisions have been withdrawn from the country, the rest have been sold to local management.
Wärtsilä began to reduce its activities in April. Due to the departure, Wärtsilä Digital Technologies (WDT) in St. Petersburg was closed. In return, the company created new research and development facilities outside of Russia.
The former divisions of Transas Navigator and Vartsila Vostok LLC will operate under new management and serve local customers without any interaction with the parent company. Wärtsilä will not provide them with services or spare parts. Earlier it was reported that since July 11, Konstantin Nortsev has become the sole owner of Vartsila Vostok.
Since the beginning of the active phase of the Russian war against Ukraine, hundreds of foreign companies have announced the end of their activities in the country. In the overwhelming majority of cases, we are talking about the sale of Russian divisions to local owners or top management. In some cases, transactions include the right to repurchase after several years. So, in particular, the Renault concert was received during the sale of a stake in AvtoVAZ.