Siemens to wind down Russian business

Siemens will exit the Russian market as a result of the Ukraine war. The company has started proceedings to wind down its industrial operations and all industrial business activities. The financial impact of this decision will be reported as part of the regular disclosure on the second quarter results today on May 12, 2022.  After the start of the war, Siemens put all new business in and international deliveries to Russia and Belarus on hold. The comprehensive international sanctions, as…

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Source: webwire.com
Siemens to wind down Russian business