ERJ reports that MAKROchem, a major carbon black distributor based in Lublin, Poland, has announced plans to terminate its operations in Russia as EU sanctions on imports of Russian carbon black are set to go into effect in June 2024.
In a statement on its website, MAKROchem made the following statement (presented in full):
Information on the limitation and final termination of the activity of the MAKROchem Group in Russia
1. On August 11, 2023, the MAKROchem Group closed its representative office in Russia.
2. The Management Board of the MAKROchem Group has decided to sell all shares in the subsidiary in Russia by the end of 2023. Preparations are currently underway to conclude an appropriate agreement, and MAKROchem will inform about the final sale of shares in a special announcement.
3. The existing import of carbon black is carried out in accordance with the law, i.e. within the quota established by Council Regulation (EU) 2023/427 of February 25, 2023, enabling the purchase and transport of carbon black to the European Union until June 30, 2024.
4. As of June 30, 2024, in accordance with the provisions of the sanctions package, MAKROchem will stop importing carbon black from Russia. The above means that from July 1, 2024, the MAKROchem Group will completely terminate business relations with the Russian Federation.