Belgian personal hygiene products manufacturer Ontex Group NV has announced that its Russian subsidiary, Ontex Russia, has been placed under interim administration under a Russian presidential decree dated October 15, 2026.

The decree places 100% of the ownership interests in Ontex RU, held by Ontex, under the temporary management of Russian management company Centre Capital, according to the published decree. The measure took effect upon official publication.

Under the arrangement, a government-appointed interim administrator has assumed operational control of the subsidiary. The announcement does not specify how long the administration will remain in place or whether Ontex will be able to regain control of its Russian business.

Ontex’s Russian operations and financial exposure

Ontex Russia employs approximately 350 people and operates a production facility in Noginsk and a sales office in Moscow.

According to Ontex, the Russian business represents around 5% of the group's total revenue and 7–8% of its adjusted EBITDA under IFRS consolidation rules. The subsidiary provides a limited cash contribution to the wider group.

Ontex said it is investigating the situation and will consider appropriate actions to safeguard its assets and ensure the continuity of Ontex Russia's operations, in the interests of employees and other stakeholders.

The company has not announced any closure of the Russian facility or a withdrawal from the market. The immediate implications for production, employees and the group's financial reporting remain unclear.

Part of a wider move affecting European companies

The decree also places Russian assets linked to several other foreign companies under temporary management, including French flooring manufacturer Tarkett, German packaging company Menshen, and packaging businesses associated with Sonoco and Sverige International Holdings.

The measures come amid heightened tensions between Russia and the European Union over the war in Ukraine and the freezing of Russian sovereign assets in Europe. Reuters reported on October 16 that the Kremlin had described the measures as reversible.

For Ontex, the key questions are whether it can recover control of its Russian subsidiary, how the intervention will affect its local operations and what financial consequences it may have for the group.