STOCKHOLM – Swedish bearings maker SKF stated on Friday it might go away Russia and take a write-down of 500 million crowns ($52.4 million) within the second quarter.
Gross sales in Russia accounted for roughly 2% of the corporate’s complete gross sales in 2021.
“Now we have concluded that it's unattainable for us to proceed our operations in Russia, as the premise and stability for our enterprise doesn't exist,” SKFCEO Rickard Gustafson stated in an announcement.
SKF stated it meant to divest the enterprise “in a managed method” with the ambition of making certain a future forits staff in Russia.
($1 = 9.5416 Swedish crowns)
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