Danfoss have signed agreement to divest the business in Russia and Belarus to the local management. With the closing of the transaction, Danfoss will no longer operate in Russia and Belarus.

Due to the tragic war in Ukraine, Danfoss decided to exit Russia and Belarus on April 1, 2022. Today Danfoss announces that Danfoss has signed an agreement to divest its business to local management.

With the closing of the transaction Danfoss will no longer operate in Russia and Belarus. Closing of the transaction is expected in September 2022.

Notwithstanding entering into the agreement to divest all operations in Russia and Belarus, Danfoss continues to monitor the situation closely and to act in full compliance with all sanctions as they develop.