Italian appliance maker becomes first company to return to Russia

Ariston will continue operating in Russia. The Italian giant has decided to return to the Russian market after President Putin revoked the earlier decision, under which the Russian subsidiary of the Italian company, Ariston Thermo Rus, was transferred to the management of Gazprom Household Systems.

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Water heater

Water heater manufacturer Ariston has decided to maintain its operations in Russia and restore cooperation with its Russian subsidiary after President Vladimir Putin revoked the decision to place the company's assets under temporary management at Gazprom Household Systems.

The Italian company welcomed the president's decision, emphasizing that it would continue operations in Russia while complying with existing sanctions.

"On March 26, 2025, Presidential Decree No. 176 of the Russian Federation reinstated Ariston Holding N.V. into the possession and full management of the shares of its Russian subsidiary," the Italian company said in a statement.

Paolo Merloni, executive chairman of Ariston, welcomed the decision.

"We intend to resume activities with our Russian local leadership, adhering fully to existing sanctions, and continue our legacy in the country," he said in a statement.

LLC Ariston Thermo Rus was registered in 2002 in Vsevolozhsk, Leningrad Region. The company primarily manufactures household electrical appliances. The company employs 318 people.

In 2023, Ariston Thermo Rus reported a profit of 33 million rubles and revenue of 9.4 billion rubles.

The company’s statement noted that the headquarters of Ariston Thermo Rus, located in Moscow, has maintained a presence in Russia for nearly half a century.

Details

Ariston Holding NV is an Italian corporation that produces heating systems and related products, marketed mainly under the Ariston, Chaffoteaux, Elco, Racold, Régent, Atag, NTI, HTP, Cuenod, Ecoflam and Thermowatt brands. In 2016, Ariston Thermo sold 7 million products in over 150 countries worldwide, amounting to a turnover of 1.43 billion Euro. It employs 6,900 people working in 59 companies, with 8 representative offices in 36 countries.