Mantsinen ceased export operations to Russia immediately after Russia began an operation in Ukraine. At the same time, the company began to investigate different options for continuation of operations of the Russian subsidiaries.
Now the company is in the process of divesting it's Russian businesses and is negotiating the sale of it's subsidiaries, according to the company's release. The main objective is to ensure a good solution for the Mantsinen Group. Negotiations with buyer candidates will be done as quickly as possible, but due to sanctions and constraints, it is difficult to predict an exact timetable, says Mia Mantsinen, the company’s CEO.
In the future, Russian companies will operate as independent companies and under a new name. Mantsinen Group will not continue its own operations in Russia after the sale of the companies. After the change, the Group’s only subsidiary is Mantsinen Sverige Ab in Sweden.
Mantsinen Group has been active in Russia for almost 25 years.
Mantsinen is a family owned company. The company's operations are divided into two business units – material handlers and logistic services. Mantsinen aims to be the most respected partner for outsourcing operations at wood terminals, scrap yards, or other terminals. Material handlers are manufactured at it's factory in Eastern Finland and they are delivered worldwide thanks to extensive dealer network.