Denmark's Kamstrup leaving Russian, Belarusian markets

MINSK. June 2 (Interfax) - Kamstrup, a Danish manufacturer of smart metering solutions for utilities such as electricity and water, is ceasing operation on the Russian and Belarusian markets, newspaper Berlingske reported, citing company representatives.

After the start of Russia's military operation in Ukraine, the company decided in March to suspend all trade with Russia and Belarus, and its office, staff and cooperation programs are now being wound down in accordance with regulations, the paper reported Kamstrup communications director Louise Vestergaard-Hansen as saying.

She said the Russian and Belarusian markets generated no more than DKK10 million of Kamstrup's total revenue of DKK2.4 billion in 2021.

Kamstrup was founded in Denmark in 1946. Currently owned by Danish energy company OK, it has offices in more than 20 countries.