Actions made by Mantsinen Group Ltd Oy due to the Russian aggressions towards Ukraine

Actions made by Mantsinen Group Ltd Oy due to the Russian aggressions towards Ukraine

The military aggression by the Russian Federation against the independent state of Ukraine is upsetting and totally unjustified. Mantsinen Group Ltd Oy supports all EU sanctions issued against Russia and will act in full accordance. This News Release gives an update on the business activities Mantsinen Group Ltd Oy conducts in Russia and what actions we have taken as a consequence of the attack.

Russia has been the most long-lasting export market where Mantsinen has been active since 1990’s. In our Group there are two Russian subsidiaries. OOO Mantsinen is active in outsourced logistic services mainly for the forestry industry. Mantsinen Machinery is the official importer and distributor of Mantsinen material handling machines, spare parts as well as after-market services in Russia. Out of a total of 600 people working for Mantsinen, almost half work in Russia, mainly within the logistic services business line. Russia has accounted for approximately 20% of Mantsinen concern’s annual revenue. The equipment sales from Finland to Russia accounts today for a few percentage of the total concern revenue.

After the Russian aggressions towards Ukraine, Mantsinen has suspended all export activities to Russia and has started the required customer due diligence process on customers for both our subsidiaries. Naturally we have also suspended order intake for any new equipment, and we have decided not to accept any new equipment orders from Russia until further notice. Our logistic services customers in Russia have already been screened and cleared from the sanctions and we will continue to serve our customers in accordance with the commitments we have made with them wherever possible. Mantsinen will strictly follow all sanction regulations and we continue to monitor the situation. Both Mantsinen subsidiaries also continue to use external partners to verify and confirm the received customer data.

In Mantsinen we maintain our multi-cultural workplace spirit and we do not tolerate or accept any discrimination, harassment, or inappropriate behaviour in any circumstance at work or in our community. We are staying focused on the challenging situation at hand and continue to support the wellbeing of our personnel, both in Finland as well as Russia.

As a company we want to support the distress in Ukraine and have donated funds through the Red Cross. Additionally, the owners of Mantsinen have donated to destinations of choice privately and Mantsinen encourages its employees to do the same when possible.

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