Caterpillar, Deere Join Firms Suspending Business in Russia
Source: Bloomberg
Two of the worlds largest manufacturers of machinery equipment needed for everything from farms to construction sites said they suspended business in Russia following the nations invasion of Ukraine, further isolating the country from the global economy.
Deere & Co. said it halted shipments of machines to Russia two weeks ago as the nation invaded Ukraine, and subsequently stopped deliveries to Belarus. Caterpillar Inc. said it suspended operations at its plants in Russia as doing business in the country has become increasingly challenging due to factors including supply chain disruptions and sanctions.
Deere is the worlds largest producer of farm equipment ranging from tractors to planters to combines. Caterpillar producers equipment critical to the construction, mining and oil and gas industries across the globe.
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John Deere is deeply saddened by the significant escalation of events in Ukraine, Jennifer Hartmann, a Deere spokeswoman, said in an emailed statement. Two weeks ago, we suspended shipments of machines to Russia and then subsequently, Belarus. We continue to monitor the situation closely while we fully abide by U.S. and international sanctions.
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Read more: https://www.bloomberg.com/news/articles/2022-03-09/deere-suspends-shipments-of-farm-equipment-to-russia-and-belarus
calimary
(80,693 posts)Paladin
(28,202 posts)ZonkerHarris
(24,155 posts)relayerbob
(6,508 posts)lagomorph777
(30,613 posts)And I imagine somebody by now has used a bulldozer to drag a tank...
MarineCombatEngineer
(12,092 posts)I know, I did it on occasion during training execises.
lagomorph777
(30,613 posts)Some road crew clearing a mess off the road, for example...
malthaussen
(17,065 posts)... every time a Ukranian farmer tows away a Russian vehicle with one of their tractors.
I am mostly hugely underwhelmed by all the companies publicizing their "withdrawal" from business in Russia. They're a dead loss right now, since Russians have no disposable income, so why waste the overhead paying for office space and salaries?
-- Mal
lagomorph777
(30,613 posts)Sure, I had to do it anyway. But I'm a good guy because I'm pulling out!
Yeah, my girlfriend didn't buy that one either.