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President Vladimir Putin has placed the Russian assets of flooring maker Tarkett and four other foreign companies under temporary management, naming Tsentr Kapital as manager. The decree covers companies in flooring, packaging and personal hygiene; the available report does not provide its duration or explain how the move will affect their operations.
President Vladimir Putin has placed the Russian assets of five foreign companies, including French flooring manufacturer Tarkett, under temporary management, according to a report by Meduza on October 16. The decree names Tsentr Kapital as the managing company, extending a measure that has affected other foreign businesses operating in Russia.
The companies named in the report are Tarkett, packaging businesses Kappa Rus, Mensen Packaging CIS and Eviosis Packaging Kuban, and personal-hygiene products maker Ontex Ru. The decree places shares and stakes in the companies’ charter capital under temporary management. Meduza’s report does not provide the decree’s full text or specify the precise assets and ownership interests covered in each case.
Tarkett is a French flooring manufacturer and, according to Meduza, one of the world’s largest flooring producers. It operates two plants in Russia, located in the Moscow and Samara regions. The report does not detail whether the plants’ production, staffing or supply arrangements will change under the new management.
The move follows other appointments of temporary managers for Russian assets belonging to foreign businesses. Meduza reported that in September, Putin placed assets of retailers Globus, Metro Cash & Carry, Auchan and Leroy Merlin under temporary management, and also introduced the measure at Nestlé Russia. The latest decree adds companies from manufacturing and packaging to that sequence.
Control of Foreign Firms’ Russian Assets
Temporary management can shift authority over specified Russian assets without, on the information available in the report, establishing that the foreign owners have sold or permanently lost them. The practical consequences depend on the decree’s terms and how the appointed manager exercises its role. The report identifies Tsentr Kapital but does not describe its operating powers or any restrictions placed on the companies.
The decision is relevant to employees, suppliers and customers because the affected businesses make goods used in manufacturing, packaging and personal care. Tarkett’s two Russian plants give the appointment a direct connection to domestic production. However, no reported information establishes that production has stopped, that workers have been dismissed, or that products will become unavailable.
For foreign companies with Russian operations, the additional appointments are another sign that control of local assets can be changed through state action. The earlier cases cited by Meduza show the policy has reached retail and food-sector operations as well. Whether the latest decisions point to a broader change in ownership or are limited management measures is not clear from the report.
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Earlier Temporary Management Decrees
The new appointments follow a series of Russian decisions affecting assets associated with foreign companies. Meduza reports that in September Putin placed assets connected to Globus, Metro Cash & Carry, Auchan and Leroy Merlin under temporary management. The outlet also reports that Nestlé Russia was placed under the same arrangement.
The latest group differs from those retail examples: it includes flooring, packaging and personal-hygiene manufacturers. The businesses and assets named in the report should not be treated as having identical ownership structures or operational circumstances. The available source does not state why each company was selected, whether the decisions share a legal rationale, or whether the earlier appointments have since changed.
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Terms and Operational Effects Unknown
The report does not state how long the temporary management will remain in place, what specific powers Tsentr Kapital receives, or whether the foreign owners retain any decision-making rights. It also does not set out the decree’s legal basis or give a value for the assets involved.
There is no information in the source about responses from Tarkett, Ontex, the packaging companies or their foreign owners. It remains unclear whether the companies’ day-to-day operations will continue unchanged, whether management changes are planned at their facilities, or whether the measure could lead to a later transfer of ownership. No production interruption or sale is reported.
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Watch for Decree and Company Responses
Further details would depend on publication or review of the decree’s full terms and statements from the affected businesses or Russian authorities. Those details could clarify which shares and charter-capital stakes are covered, how Tsentr Kapital will administer them, and whether the arrangement has a defined end date.
For now, the confirmed development in Meduza’s report is the appointment of Tsentr Kapital as temporary manager for the named Russian assets. Any claims about changes to factory output, ownership, employment or product supply remain unconfirmed by the source material.
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Key Questions
Which companies are covered by the new measure?
The report names Tarkett, Kappa Rus, Mensen Packaging CIS, Eviosis Packaging Kuban and Ontex Ru. It says the companies operate in flooring, packaging and personal-hygiene products.
Who will manage the Russian assets?
The decree names Tsentr Kapital as the temporary managing company, according to Meduza.
Does the report say Tarkett’s Russian factories have closed?
No. Meduza says Tarkett has two plants in Russia, in the Moscow and Samara regions, but does not report a shutdown or a change in production.
Does temporary management mean the companies have been sold?
The report describes the assets as being placed under temporary management and does not say they have been sold. It does not provide enough detail to establish what ownership rights remain with the foreign companies.
How long will the management arrangement last?
The report does not specify a duration or an end date. Further details would require the decree’s terms or statements from the authorities or companies.
Source: rss
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