Ontex Group NV announced that its Russian subsidiary, Ontex Russia, has been placed under interim administration following a presidential decree dated October 15, 2026. Under the procedure, a government-appointed interim administrator has assumed operational control of the subsidiary.
Ontex Russia employs approximately 350 people and operates a manufacturing facility in Noginsk and a sales office in Moscow. The business accounts for around 5% of Ontex Group’s total revenue and 7% to 8% of its adjusted EBITDA under IFRS consolidation rules, while contributing a limited amount of cash to the group.
The company is investigating the situation and will consider appropriate measures to protect its assets and ensure the continuity of Ontex Russia’s operations, taking into account the interests of its employees and other stakeholders.
OTHER COMPANIES ALSO AFFECTED
Ontex Russia is among five subsidiaries of European-linked companies placed under temporary management in Russia. The other companies are flooring manufacturer Tarkett, Kappa Rus, Menshen Packaging CIS and Eviosys Packaging Kuban.
The measure is based on Russian Presidential Decree No. 302, issued on April 25, 2023. The decree allows the Russian government to impose temporary management over movable and immovable property, shares, securities and property rights associated with countries that Moscow designates as “unfriendly.”
