Geberit will restart production at its factory in Ukraine which it temporarily shuttered after Russia's invasion of the country, CEO Christian Buhl said on Wednesday. Geberit employs 590 people in Ukraine and its factory had been unharmed in the conflict, said Buhl, speaking as the Swiss company reported its first quarter earnings.
ZURICH (Reuters) -Geberit will raise prices again this year as it tackles "an unprecedented surge" in raw materials costs hitting the construction industry, the Swiss plumbing products maker said on Wednesday. The company - seen as a proxy for the broader construction sector, as its products, such as bathroom ceramics and pipes, are so widely used - had already imposed one extraordinary price hike in January and an annual price rise in April. "Due to the expected acceleration in raw materials price inflation we will implement another extraordinary price increase of an average of 7.5% as of July this year," Chief Executive Christian Buhl told reporters.
Swiss plumbing materials supplier Geberit has reduced its activities in Russia following Moscow's invasion of Ukraine, the company said on Wednesday. Geberit had previously said it was continuing its operations in Russia, where it employs 70 people at its offices in Moscow. Western companies still operating in Russia have come under increasing pressure to halt their activities.