24 Aug 2022 09:26

Australia's Ansell to exit Russia, hopes to sell business

SYDNEY. Aug 24 (Interfax) - Ansell Ltd., an Australian manufacturer of personal protection equipment, has decided to leave the Russian market and has already received a number of expressions of interest in its Russian business, CEO Neil Salmon said in an interview with The Wall Street Journal.

He said Ansell would prefer to sell rather than just close its business in Russia so that local employees can keep their jobs.

The company decided to exit Russia because of growing costs, the need to comply with sanctions against Russia and reputational issues, Salmon said.

Ansell opened a factory in Tula Region in June 2021 to manufacture professional protective gloves.

Salmon said the company can exit its manufacturing business and sales operations separately. Ansell never considered the possibility of maintaining some part of its business in Russia, he said.

Ansell wrote off $17 million as a result of the shutdown of operations in Russia, the company reported Tuesday in its financial statements for the 2022 financial year that ended on June 30.

Ansell works in two main business segments, industrial and medical, and has more than a 15% share of the world PPE market.