HomeEconomyThe American giant Caterpillar...

The American giant Caterpillar has finally left the Russian market

Image: Caterpillar logo

Caterpillar has two production sites in Russia – in the Leningrad region and in Novosibirsk.

American engineering giant Caterpillar has completed the sale of its Russian assets to local company PSK-New Solutions, owned by Armenian investment fund Balchug Capital. Reuters reported this in connection with documents from the Russian company.

It is known that the agreement was officially completed on June 14, the amount of which was not disclosed.

One of the world’s largest manufacturers of construction and mining equipment – the American corporation Caterpillar – announced its decision to suspend supplies and production of equipment in Russia in March 2022 and after some time agreed to sell its Russian assets to local PSK-New Solutions LLC. In November 2023, the agreement was approved by Russian dictator Putin.

Caterpillar has two production sites in Russia – in the Leningrad region and in Novosibirsk. It manufactures heavy-duty dump trucks, hydraulic excavators, bodies for mining dump trucks, as well as parts for machinery and process equipment.

Let’s recall that on June 12, the United States introduced a strong package of financial sanctions against 300 individuals and legal entities in Russia and other countries that aid the Kremlin’s military machine. On the same day, the Moscow Exchange announced the suspension of trading in dollars and euros from June 13. And now the Bank of Russia made the same decision.

Also on Thursday, the UK imposed sanctions against Russian financial institutions and Russia’s shadow fleet.

A blow to the finances of the Russian Federation: the reaction of the Kremlin appeared
New Correspondent.net on Telegram and WhatsApp. Subscribe to our channels Athletistic and WhatsApp

Source: korrespondent

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

- A word from our sponsors -

Read Now

Dream Rebel National Bank will not exist at the current rate

The Council of the National Bank of Ukraine decided to maintain a discount rate at 15.5%. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } On July 24, the head of...

13 of the Cherov returned over time of Plen connection July 23 – Minenergo (Photo)

During the ninth exchange of concluded in the framework of Istanbul agreements, which took place yesterday, July 23, Ukraine returned home 13 militants of the National Guard, protecting the Chernobyl nuclear power plant in the early days of the complete Russian invasion. .in_text_content_22 {width:...