Danieli’s exit from the Russian market is understandable and inevitable, said Gianpietro Benedetti, chairman of the company’s board of directors.
The Italian company Danieli, one of the leading European and world manufacturers of equipment for metallurgy, has decided to end its activities in Russia. This was reported by the publication Siderweb.
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“The Russian market is gone, but we now have buyers for our asset. We have put our Russian asset up for sale and we now have a good list of interested buyers,” said Danieli Chairman Gianpietro Benedetti during the Steel and Identification conference in Udine.
According to him, the evolution of the geopolitical scenario led Danieli to the realization that it is no longer possible to have commercial relations and presence in the Russian market in its current state.
“Therefore, we made the decision to sell our company in this territory. We can also complete this operation in a short time, because there are many interested operators and the proposed economic compensation is also remarkable. Any further assessment is premature in this point. However, our exit from this market is understandable and inevitable,” said Benedetti.
According to the GMK Center, Danieli has two legal entities in Russia – Danieli Russia Engineering LLC and Danieli Volga LLC. Danieli Russia Engineering LLC provides services for installation and commissioning of equipment in factories located in Russia. Danieli Volga LLC is a manufacturing company that develops and manufactures various equipment (mainly for metallurgical plants).
Recall that one of the world’s largest manufacturers of agricultural machinery, the British CNH Industrial, will leave Russia and sell its assets.
And in March, the Swedish company IKEA sold its last production site in Russia – a furniture factory in the Novgorod region.
Source: korrespondent
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