(This story was refiled to take away an incorrect image)
BERLIN – Daimler Truck mentioned on Monday it could freeze its enterprise actions in Russia with rapid impact, together with its cooperation with Russian truck maker Kamaz. No extra vans will likely be constructed beneath Daimler’s joint partnership with Kamaz, and no extra elements will likely be equipped to it, the group mentioned in an inside memo seen by Reuters.
“Our cooperation with Kamaz is solely civilian in nature and was solely concluded with this focus,” the memo mentioned.
“On this cooperation, it goes with out saying that now we have at all times strictly complied with all relevant export management and sanction laws,” it added.
Daimler Truck mentioned that it was deeply shocked by the navy violence in Ukraine and mentioned it was monitoring the state of affairs carefully. “We'll adjust to all measures taken by the German authorities and the EU,” it mentioned on Twitter.
Mercedes-Benz Group can be trying into authorized choices to divest its 15% stake in Kamaz as shortly as potential, the Handelsblatt newspaper reported.
A Mercedes spokesperson advised Reuters enterprise actions must be re-evaluated in mild of the present occasions.
Mercedes-Benz Group, previously Daimler AG, was the mother or father firm of Daimler Truck earlier than the truck maker was spun off.
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