Caterpillar suspends Russian operations
US construction-equipment manufacturer Caterpillar is suspending its operations at Russian manufacturing facilities, it said on March 9, joining the more than 300 hundred mostly Western companies that have taken similar steps since Moscow began its invasion of Ukraine.
"We are deeply saddened by the tragic events continuing to occur in Ukraine and hope for a peaceful resolution to the crisis," Caterpillar said, adding that its foundation would donate over $1mn in Ukrainian humanitarian aid. "Operations in Russia have become increasingly challenging, including supply chain disruptions and sanctions, and we are suspending operations in our Russian manufacturing facilities."
|
Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. |
Caterpillar said it was complying with sanctions and other laws, and would focus on the needs of its employees, dealers and customers. The company entered Russia in 1973 and provides equipment for the oil and gas, mining, infrastructure, transportation, power generation and industrial and marine engines markets, according to its website.