An American manufacturer of lifting equipment has announced that it has reached an agreement with the Russian company Ice Development to sell its business in the Russian Federation to it. This was reported on Wednesday, July 27, on the official website of the organization.
“<…> we have come to the conclusion that Otis’ ownership of our business in Russia is no longer sustainable, and we have entered into an agreement with Ice Development to sell 100% of our stake in Otis’ Russian business,” the statement said. companies.
The reason, according to the organization, was the ongoing crisis and humanitarian tragedy in Eastern Europe associated with Russia’s special military operation to protect civilians in Donbass.
They also added that Ice Development plans to resume full production at the Otis factory in St. Petersburg under a new name.
On July 27, the American company Microsoft calculated its losses after leaving Russia. So, the decision to leave the Russian market cost the corporation $126 million.
On July 21, the Russian market was left by the Finnish engineering company Wartsila after the April announcement of a reduction in the scale of activities.
The decision to suspend operations in Russia was made by a number of companies against the backdrop of a special operation to protect the Donbass, which has been ongoing since February 24, and anti-Russian sanctions, which, among other things, include the closure of transport links, which is why many companies complained about problems with logistics.
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