US battery maker leaving Russia – media
American alkaline battery manufacturer Duracell has decided to exit the Russian market and end its business operations in the country, the news outlet Mash reported on Friday on its Telegram channel, citing a letter from the company to its partners in Russia.
According to the report, the decision was made after Duracell’s plant in Belgium stopped deliveries of products to the company’s Russian branch.
The company management has reportedly ordered all existing contracts unilaterally terminated, inventory to be sold off, accounts settled with personnel, and letters sent to partners informing them of the impending cessation of activities.
“We hereby express our deepest regret to inform you that our shareholders have decided to exit the Russian market and cease the business of Duracell in Russia, in accordance with Russian laws and regulations. After the liquidation, Duracell shareholders do not intend to distribute or otherwise make their products available on the Russian market,” the letter published by Mash and signed by the CEO of Duracell Russia, Yuri Korotayev, stated.
The company noted that it will cease deliveries of its products to Russian partners in the coming weeks, but will honor its contracts until it runs out of supplies.
Korotayev later confirmed the letter’s authenticity to the news outlet Podyom, but did not elaborate on the details of the planned exit. He noted that the company’s environmental projects to recycle used batteries will not be curtailed.
The official dealer of Duracell batteries, DuracellShop, told TASS news agency on Friday it has not yet been notified of the planned termination of the company’s operations in Russia.
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