Henkel Spins off Russian Business
December 19 2022 - 7:26AM
Dow Jones News
By Pierre Bertrand
Henkel AG on Monday said it has spun off its Russia business and
that starting from Jan. 1, it will operate independently under the
name of Lab Industries.
The move comes as the German consumer-goods company prepares its
exit from Russia, which it announced back in April.
"A transfer of ownership is only possible if the local business
can operate independently of Henkel's global business processes and
systems," a Henkel spokesman said when asked by Dow Jones
Newswires.
The spokesman said Henkel was working to complete the process as
soon as possible.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
December 19, 2022 08:11 ET (13:11 GMT)
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