Russian subsidiaries of household appliance manufacturers Ariston and Bosch have been transferred to temporary management of a structure from the Gazprom group – JSC Gazprom Household Systems. The corresponding decree was signed by Russian President Vladimir Putin.
According to the document, Ariston Thermo Rus LLC, which belongs to the Italian Ariston Holding NV, and BSH Household Appliances LLC, associated with the German BSH Hausgerate GmbH, come under the control of the Gazprom structure.
Ariston has been operating on the Russian market since 1995, Kommersant reports. Since 2005, the Ariston Thermo Group plant has been operating in Vsevolozhsk, Leningrad Region, producing storage water heaters. In turn, Ariston Thermo Rus LLC sold Ariston, Rendamax, Elco, and Ecoflame products in Russia.
In turn, BSH Household Appliances is registered in Peterhof. Until 2022, the company was engaged in the production of refrigerators and washing machines, and then the sale of spare parts and household appliances, as well as servicing devices from Bosch, Siemens, Gaggenau, Neff, Zelmer.
In 2022, after the start of a full-scale Russian invasion of Ukraine, Bosch announced the suspension of production and supplies of household appliances to the Russian Federation. The company began looking for buyers for its Russian factories. Kommersant named Turkish and Chinese investors among potential buyers.
In the spring of 2023, Vladimir Putin signed a decree allowing the transfer of the Federal Property Management Agency to temporary management and the actual nationalization of the assets of foreign companies in Russia. For example, the owners of the Russian business of Carlsberg and Danone companies changed. According to the same scheme, one of the largest car dealers in the Russian Federation, Rolf, was nationalized.
Listen to the podcast episode “What Happened” about how property is redistributed in Russia during the war
Tags: Putin transferred Russian businesses Ariston Bosch Gazprom structure Meduza
