Report: Rockwool: global leader in wool insulation products. Keeping Russia warm while Russia is freezing Europe
Rockwool: global leader in wool insulation products. Keeping Russia warm while Russia is freezing Europe, 21 November 2022
...Rockwool operates in Russia through “Rockwool LLC” (“ООО РОКВУЛ”) in Balashikha, “Rockwool North LLC” (“OOO РОКВУЛ СЕВЕР”) with a plant in Vyborg, “Rockwool Ural LLC” (“ООО РОКВУЛ УРАЛ”) with a plant in Troitskand “Rockwool Volga LLC” (“OOO РОКВУЛ ВОЛГА”) with a plant in Yelabuga...
Rockwool Russia employs over 1,200 people with 18% of sales or €562m from Eastern Europe and Russia in 2021(2Q’22 growth of 57% in LCU). Each of the plants are among the largest manufacturing enterprises and taxpayers in the region. Rockwool invested $150m in Yelabugaplant, it was the largest amount invested in a manufacturing facility by Rockwool. According to an industry portal, the plant produces some of the most advanced Rockwool products. In 2021, Rockwool announced a €200m investment in new production line at Vyborg insulation plant, which was subsequently cancelled due to Russian invasion of Ukraine.
Rockwool has been actively recruiting during 2022. As of November 2022, according to the Russian job search service, there are more than 50 vacancies
In 2018, Rockwool joined the Foreign Investment Advisory Council in Russia (“FIAC”). FIAC operates under the leadership of the Russian Prime Minister with a goal to improve the Russian investment climate
Rockwool is an active participant in social projects and improvement programs in Russia. On 9 February 2022, the CEO of Rockwool Russia received the medal of the Moscow Regional Duma "For Labour“. According to Rockwool, the head of the city Balashikha said that Rockwool is one of the major investors in the district
According to Rockwool’s code of conduct, the Company has strong moral principles. However, months into invasion, on 22 July 2022 Rockwool became a member of the Russian Managers Association, which on the 26 October 2022, joinedthe Russian #WETOGETHER campaign directly supporting the Russian mobilized soldiers and their families, thereby actively supporting the war...