MOSCOW, April 22. /TASS/. The Russian plant of the Swedish bearings producer SKF announcing its exit from Russia will continue operations, OOO SKF said on Friday.
"The Russian management team in cooperation with colleagues from Sweden is currently developing the business restructuring plan for purposes of continuing operations and manufacturing activity of OOO SKF - the Russian unit of the SKF Group of companies. I would like to particularly stress that we do not plan halting product manufacturing at the plant in Tver," CEO Alexey Shulepov said. The team will continue business activity outside SKF after completion of the transitional period, he added. The plant was opened in 2010.
SKF will leave Russia, the company said earlier today in its press release. The intention is to divest the business in a controlled manner, SKF noted.
The company announced the suspension of supplies to Russian buyers in early March.