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.
Source: korrespondent
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