Search Results for: russia

A new managing director has been appointed for OOO Ponsse, Ponsse’s subsidiary in Russia. Jaakko Laurila, the company’s current managing director, will transfer to another position in Ponsse Group, and Mihail Menshikov will start as the new managing director. In its release issued on 28 June 2022, Ponsse announced that it has signed a deed[…]

Ponsse Plc has sold all shares in OOO Ponsse, its subsidiary that provided PONSSE services in Russia and Belarus. Ponsse signed the deed of sale, according to which Ponsse’s operations in Russia will transfer to OOO Bison once the conditions of the transaction have been met. Ponsse announced its intention to divest its operations in Russia[…]

Ponsse has decided to divest its operations in Russia. The divestment of all shares in OOO Ponsse, Ponsse Group’s subsidiary providing PONSSE services in Russia and Belarus, is currently being negotiated. “We have been looking for a solution to the challenging situation regarding operations in Russia. We have decided to divest our operations in Russia[…]

Recent Statement John Deere suspends shipments to Russia – John Deere is deeply saddened by the significant escalation of events in Ukraine. The safety, welfare, and well-being of our employees in the region remains our top priority, and we continue to support and maintain close communication with our affected teams, providing necessary resources when possible. Our[…]

Stora Enso has divested its three corrugated packaging plants in Russia. The Company’s Lukhovitsy, Arzamas and Balabanovo packaging plants have been divested to local management. Stora Enso’s assessment is that due to the uncertainties in the Russian market, local ownership and operation will provide a more sustainable long-term solution for these businesses and their respective[…]

Stora Enso has entered into an agreement to divest its two sawmills in Russia. The Company’s Nebolchi and Impilahti sawmills will be divested to local management. In addition, the divestment includes Stora Enso’s Russian forest operation which through its harvesting supplies wood to the sawmills. Stora Enso’s assessment is that due to the uncertainties in[…]

(WRI Market Insights) – Russian Sanctions: Sanctions against Russian exports will permanently alter the global trade of forest products. Lumber trade flows changed almost instantly when Russia invaded Ukraine in late February. Trade sanctions and restrictions in financial transactions by Europe, North America, and major markets in Asia halted shipments from Russia and Belarus. In[…]

Koskisen has decided to discontinue its operations in Russia. The company will run down it’s Russian’s sawing operations and stop importing sawn goods and logs from Russia. The discontinuation of operations will be carried out with personnel and local regulations in mind, and a more detailed schedule will be announced as the process moves forward.[…]

Construction equipment manufacturers are joining the surge of companies shutting down their operations in Russia. Caterpillar, Hitachi Construction Machinery, Komatsu and JCB have all announced decisions to suspend operations in the country until further notice. In a statement, Caterpillar announced it’s suspending manufacturing in Russia. “Operations in Russia have become increasingly challenging, including supply chain disruptions and sanctions, and we[…]

Due to the situation in Ukraine, the disruption in the supply chain surrounding Komatsu has become extremely difficult and the impact on the financial and economic situation remains uncertain. In line with its crisis management policy, Komatsu has set up an emergency task force headed by its President and CEO Hiroyuki Ogawa, in which information[…]