Scaling back business activities in and with Russia



19-Jul-2022

Press release

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At Bekaert we are united by the belief that there should be no harm to anyone, and as a consequence, we condemn any act of violence and aggression against people.

Our thoughts are with the people from Ukraine, and our priority is the wellbeing of our employees and their families, and to support them wherever they are. 

We want to thank all our teams in the region which are doing their utmost to help those in need in whichever way they can, and as a company we are supporting various humanitarian efforts, through donations and by offering employment and accommodation at different locations.

Among our team of 27 000, we employ people from more than 70 countries, including Russia, and we respect and cherish the diversity wherever we operate in the world.

We are one team, united by Bekaert’s history and values, and by working better together for all our stakeholders.

As for our business in Russia and business activities with customers and suppliers in Russia: 

  • We stopped all new investments in our local production plant in Lipetsk since March 2022;
  • We remain operational in Lipetsk in support of the livelihood of our employees and their families;
  • We are scaling back our activities in and with Russia:
    • We ensure compliance with the ever-evolving rules;
    • The Lipetsk plant is a local-for-local business and the activity level has decreased;
    • Exports to customers in Russia have strongly reduced.

We will continue to monitor the situation very closely and evaluate scenarios accordingly.