Skano Group AS has decided to end its activities in Ukraine. Skano Group, under its new management board, is currently reviewing all of Skano's activities in its quest to improve Skano Group's financial performance. The poor trading conditions in Ukraine, being heavily influenced by the uncertain political and economic environment in Ukraine, has resulted in Skano having incurred losses in Ukraine during the last few years. The closing process will commence immediately and should be completed in March this year.

Torfinn Losvik
Chairman of the Management Board
Phone: + 372 56 99 09 88
E-mail: torfinn.losvik@skanogroup.com

Skano Group AS published this content on 13 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 13 January 2017 11:30:09 UTC.

Original documenthttp://www.skano.com/en/news/announcements/2017/564-skn-skano-to-close-its-ukrainian-operations

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