The 20 large Spanish companies that remain in Russia despite the invasion of Ukraine


A southeastern suburb of St. Petersburg which wanted to be the Detroit of Russia, in reference to the former American motor capital. This is how he defined himself a decade ago Novosaratovka, a municipality of German influence bathed by the Neva River that today barely exceeds 500 inhabitants. Its geographical location, on the other hand, makes it a strategic enclave in the Leningrad region and benefits complexes located there such as Utkina Zavod, a logistics terminal connected by road with the country’s main freight transport routes. Managed by the company Multinational Logistic Partners, it has tenants such as Hoff, X5 Retail, Total Terminal and a Spaniard, Antolin, automotive assistant owned by the family of the same name.

Antolin landed in Russia in 2011 to accompany automobile customers to whom it supplies components such as roof linings or door interiors. He did it hand in hand with the then governor of the Leningrad region (Valery Serdyukov), who in order to create a large automotive industrial center and attract foreign investment offered succulent tax incentives (on corporate tax or commercial property). Antolin went there, who built a factory with an initial investment of 14 million euros. It premiered producing in the suburb of St. Petersburg door panels of Hyundai cars and window regulators for Renault.

From St. Petersburg, the group grew to another area, Nizhny Novgorod, east of moscowwhere it installed its second production plant in 2014. The activity in Russia, where it employs some 149 people, generated losses before taxes of 74,414 euros in 2020, the last year with available data, according to its report.

Antolin is one of the almost twenty large Spanish companies that today continue in Russia, despite the invasion of Ukraine, in a different state of activity, according to data made public during the month of April by the Yale School of Management. The academic institution indicates that seven of them continue to operate: the steel company Acerinoxthe swimming pool company Fluidrafeeding groups Borges Y Forts (The Well)the mining company Maxam -questioned by Volodímir Zelenski in Congress for doing business with Russia-, Lladró ceramics and Antolin itself. Two others, the tourist company Amadeus and fruit and vegetable cooperative Anecoopare in the process of reducing their operations, while those that have suspended their activity, but without withdrawing completely and leaving the door open to resume it, are Amrest, Cie, Gestamp, Inditex, Mango, Rock, Tendam Y Allaccording to Yale.

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The bulk of these companies began to establish themselves in the country as of 2003. This was the case despite the difficulties that existed in Russia due to the legal uncertainty related to foreign investment. There were legal loopholes, corruption, and the risk of illegal appropriation of property, among other problems. The arrival of these companies in Russia, especially the industrial ones, was not carried out to relocate and reduce costs, as was the case in China. The objective was, instead, to be implanted there to be able to sell on the russian market. The large size of the country caused these companies to settle with a regional visionwith the Moscow and St. Petersburg areas being preferred.

This reason is one of the reasons why some of these factories remain open today, as they are working for the Russian market and have clients and contracts to satisfy, according to sources from the companies themselves, and despite the Economic sanctions to which they are exposed by the US and the European Union. Antolin explains that he has paralyzed one of the two factories, while the other is working for some of his clients. “We are constantly monitoring and analyzing the situation to adapt to the situation of our clients,” company sources indicate.


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