The German company Bosch is trying to sell its factories in Strelna, near St. Petersburg. Several Russian retailers have already been interested in them, but were not satisfied with the stated price of the companies, writes the newspaper Kommersant on Monday, August 22, citing sources in the electronics market.

Russian factories of Bosch cost up to 4.4 billion rubles before

“Bosch does not understand what to do with Russian installations that do not make a profit”, – said one of the interlocutors of the publication. According to sources, power plants can cost up to 4.4 billion rubles in operating conditions. Now its cost, taking into account many months of downtime, can be “many times less”. The most likely buyers could be Chinese or Turkish suppliers.

The Russian branch of Bosch – BSH Household Appliances LLC – was engaged in the production of refrigerators and washing machines, the factories received most components from Europe. Based in Gerlingen, near Stuttgart, the company declined to comment to DW on the search for buyers for Russian factories. The company’s response only states that “due to the current situation, we do not expect further profits from our business in Russia”.

German home appliance maker Bosch has suspended the operation of its factories in Russia after the outbreak of a full-scale war between Russia and Ukraine. According to Yale University, more than a thousand foreign companies have announced their withdrawal from the Russian market or the restriction of business in the Russian Federation in the last six months.