The Swiss international concern Sulzer, which specializes in the production and service of industrial machinery and equipment, as well as surface treatment technologies, has decided to leave the Russian market.
“The Sulzer Board of Directors has decided to initiate the exit process from the Russian market,” the press release says.
It is noted that the sale process will begin immediately.
“The Board regrets the need for this decision after decades of activity in Russia, but after a thorough review of options, it concludes that this is the best solution for all stakeholders,” the company said.
As reported, since the first days of the Russian Federation’s full-scale invasion of Ukraine, international allies and partners have imposed tough packages of sanctions on the Russian economy, as well as export restrictions. Hundreds of companies have announced the termination of work in the Russian Federation and the withdrawal from joint projects.