Industrial Suppliers Rockwell Automation, Twin Disc Halt Business in Russia

[ad_1]

Amid Russia’s ongoing invasion of Ukraine, Wisconsin-based Rockwell Automation and Twin Disc have joined numerous other manufacturers in suspending or reducing their operations in Russia.

Fn Rvu6 Vvuam8h LyMilwaukee-based Rockwell announced March 7 that it was temporarily suspending operations and sales in Russia and Belarus, effective immediately.

“Rockwell joins the U.S. government and the global community in condemning Russia’s attack on Ukraine and its citizens,” Rockwell chairman and CEO Blake Moret said in a news release, emphasizing that the company supports all U.S. sanctions against Russia.

The industrial automation and digital transformation company said it has made a financial contribution to Project HOPE to provide humanitarian relief to refugees in Ukraine and neighboring countries, and is encouraging employees to help in a variety of ways. Rockwell will match employee donations made to Project HOPE and is offering paid time off to support local volunteer efforts.

Rockwell’s press release noted that Russia and Belarus account for less than 0.5 percent of the company’s total revenue. The company added that it will continue to pay salaries and benefits for its some 30 Russian team members, and that it does not directly employ anyone in Ukraine or Belarus.

J G3 Mzuw 400x400That same day, fellow industrial supplier Twin Disc said it was immediately stopping business activity in Russia and Belarus “until further notice” in light of “the challenging operating environment, supply chain issues and evolving sanctions.”

The Racine, WI-based manufacturer of marine and heavy-duty off-highway power transmission equipment said its presence in both countries is limited in both marine and land-based markets, adding that the action’s impact on its financial results would be marginal.

“What is happening in Ukraine right now is tragic, and the bravery and resilience of the Ukrainian people are an inspiration to the world,” Twin Disc CEO John Batten said. “We remain focused on the well-being of our employees and associates impacted by these hostilities.”

Twin Disc said that while the company doesn’t have any employees based in Eastern Europe, it will only conduct business in Ukraine in emergency situations.

[ad_2]

Source link

https://businesstantra.in/folder