Danish giant expropriated by Putin. Rockwool loses assets in Russia worth nearly half a billion euros

The Danish company Rockwool announced on Tuesday that, by Vladimir Putin's decision, it had lost control over four factories in Russia. The company produces insulating materials. Rockwool was previously criticized for continuing to operate in Russia after that country invaded Ukraine in February 2022.

According to the company, the value of its assets in Russia was EUR 469 million at the end of 2025, and the Russian branch was profitable.

The company emphasized that it would defend its rights under the Danish-Russian investment agreement. He added that in the current situation However, he is not optimistic to the possibility of withdrawing the decision to take over the company's branch by the Russian state. Rockwool intends to contact the government in Copenhagen and EU authorities.

On Tuesday, the company's share price on the Copenhagen Stock Exchange fell by 8-12%.

Previously, Rockwool was criticized for continuing its operations in Russia after February 2022. According to experts quoted by the “Berlingske” newspaper, this resulted in image losses for the company and ultimately did not protect against nationalization.

The Danish company has branches in many countries around the world, including two plants in Poland. On the Rockwool website you can read that the stone wool materials produced by the company were used to insulate buildings such as the Empire State Building in New York or the Bolshoi Theater in Moscow. (PAP)

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