The Council of the Polish company ALUMAST (Alumast) made a decision to liquidate the subsidiary ALUMAST RU, citing among the reasons the absence of a suitable business climate for Polish companies in Russia.
The company is a leading manufacturer of composite and aluminum lighting and construction solutions for the energy industry, railways, road infrastructure and advertising. Alumast manufactures power poles, flagpoles, lighting poles and lanterns that do not conduct electricity.
In a statement, the company's management says that “the termination of ALUMAST RU is necessary due to the loss of market share in Russia. The decision to liquidate the company was also dictated by the “poor conditions for doing business by Polish companies in Russia and the lack of export insurance for existing clients”.
At the same time, ALUMAST plans to strengthen its activities in Germany through the transfer of the ALUMAST GmbH office in Dusseldorf and the reconstruction of the company's organizational structure.
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