March 1, 2022 at 11:45 a.m.
On the situation of Aspo’s businesses in the Eastern markets
Aspo has followed the tragic events in Ukraine in shock, as the situation escalated into war as a result of the Russian military offensive. Of Aspo’s businesses, Telko and Leipurin have a total of 60 employees in Ukraine, and our top priority has been to do everything we can to help our Ukrainian employees and their loved ones.
Russia, other CIS countries and Ukraine market area accounted for approximately 27% of Aspo Group's net sales in 2021, with a decrease in recent years. In the Eastern market, Aspo's strategy is to grow in a controlled and organic manner. Our competitiveness is based on reliable and sustainable supply chains and long-term customer relationships, and we utilize our long experience of operating in the region. The products distributed by Telko and Leipurin are basic raw materials, and Leipurin's raw material procurement is to a large extent local. The customer base of both companies in the Eastern market is fragmented, and assets are allocated to inventories and trade receivables.
Aspo’s management closely monitors the development of the crisis and is actively working to mitigate its effects.
We urge for a swift diplomatic resolution and a lasting peace in Ukraine.
Further information, please contact:
Rolf Jansson, CEO, Aspo Plc, +358 400 600 264, email@example.com
Aspo creates value by owning and developing business operations sustainably and in the long term. Our companies aim to be market leaders in their sectors. They are responsible for their own operations, customer relationships and the development of these aiming to be forerunners in sustainability. Aspo supports its businesses profitability and growth with the right capabilities. Aspo Group has businesses in 18 different countries, and it employs a total of approximately 960 professionals.