The American elevator manufacturer Otis Worldwide Corporation will sell its business in Russia to S8 Capital. This was reported in the company’s press service on Wednesday, July 27.
“After careful consideration of the global implications and impact of the ongoing humanitarian crisis and tragedy in Eastern Europe, including disruptions to supply chains and tightening regulations, we have concluded that Otis’ ownership of the business in Russia is no longer sustainable and we have reached an agreement with Ice Development for the sale of 100 percent of our participation in the Russian business, — the message speaks.
However, the Ministry of Industry and Trade announced that the holding company S8 Capital would become the final buyer of the company’s Russian business, and Ice Development would be a technical participant in the transaction.
According to Deputy Prime Minister of the Russian Federation, Head of the Ministry of Industry and Trade Denis Manturov, this agreement is important for the development of the entire industry. So, the companies of the former Otis in Russia will begin to accept orders and resume work on August 1, reports RIA Novosti.
It also became known that one of the largest manufacturers of elevators, elevators and escalators in the world, the Finnish company Kone, will sell its business in Russia to the management of the division.
Source: vm.ru
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