US company Emerson to exit Russia business

Business & Economy May 04, 2022, 17:21

As part of this exit, strategic options to divest Metran, the Russia-based manufacturing subsidiary, are being explored

NEW YORK, May 4. /TASS/. The US technology company Emerson that develops and produces equipment for industrial automatization in various fields, has decided to exit its Russia business, according to the information released on its website on Wednesday.

"Today, Emerson is announcing our decision to exit our Russia business and, as part of this exit, we are exploring strategic options to divest Metran, our Russia-based manufacturing subsidiary. We are committed to an orderly transfer of these assets and will support our employees through this process," President and Chief Executive Officer Lal Karsanbhai was quoted as saying.

Russian President Vladimir Putin said on February 24 that in response to a request by the heads of the Donbass republics he had made a decision to carry out a special military operation in Ukraine, stressing that Moscow had no plans of occupying Ukrainian territories. The United States and its allies responded to Russia’s actions by slapping massive sanctions and speeding up arms supplies to Kiev.

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