The German manufacturer of building materials Knauf Group could not sell the Russian business. This is reported in a Knauf press release.
The press release emphasizes that "Knauf still intends to leave Russia and, in very difficult conditions, is exploring further possible exit options from the Russian market, protecting the interests of its employees in Russia."
In April 2025, Knauf began negotiations to exit the Russian market, but the negotiations were unsuccessful due to the refusal of an unnamed potential buyer from plans to acquire a Russian business.
Currently, the Russian assets are managed by the local leadership and "isolated from other Knauf Group enterprises in full compliance with the sanctions." In addition, Knauf reports that "since the announcement of its exit from the business, the Knauf Group has not received any profit from its Russian business, and goods have not been exported from Russia to the EU or imported from the EU to Russia."
Knauf Group is a multinational company with headquarters in Iphofen (Germany). The company is a manufacturer of building materials and operates more than 320 production sites and sales offices in more than 90 countries. In 2024, sales amounted to 15.6 billion euros, and the staff includes 44 thousand people.
In Russia, Knauf owns 20 enterprises for the production of cardboard, gypsum, plastic plates, paints and varnishes, registered in St. Petersburg and the Leningrad region (Knauf Petrobord, Knauf Gypsum Kolpino, Knauf Penoplast and KG Stroy Sistemy).
