Otis will sell 100% of the business to Ice Development. The deal will close shortly.
The American lifting equipment company Otis, the largest in the world, has decided to sell its business in Russia. This was said in a statement.
It was noted that Otis will sell 100% of the business to Ice Development.
“After careful consideration of the global impacts and consequences of the ongoing crisis and humanitarian tragedy in Eastern Europe, including supply chain disruptions and tightening regulations, we have determined that Otis’ ownership of our business in Russia is no longer sustainable,” the statement said.
The deal will close shortly.
The company emphasized that they will continue to contribute to providing aid to Ukraine.
Recall that Tetra Pak Corporation has withdrawn its business from the Russian Federation.
It was also reported that Philip Morris International Inc. before the end of this year intends to withdraw from the Russian market.
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Source: korrespondent
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