German power equipment manufacturer Siemens leaves Russia

The German manufacturer of electrical engineering, electronics, energy and medical equipment Siemens announced its withdrawal from the Russian market. The company recalled that after the start of the “special operation”, it had already suspended international deliveries to Russia and Belarus, and now it is starting to curtail its industrial activities in Russia.

“We condemn the war in Ukraine and have decided to carry out an orderly process of winding down our industrial activities in Russia. It was not an easy decision, given the responsibility to care for our employees and long-standing customer relationships in a market where we have been operating for almost 170 years,” said Siemens President and CEO Roland Busch.

Siemens is one of the main suppliers of power equipment to Russia, notes Interfax . The company, in particular, owns Siemens Transformers and 65% in a joint venture with Power Machines. Siemens Gamesa, also part of Siemens, is a partner of Enel Russia in the implementation of projects in the field of renewable energy.

In addition, in Russia, Siemens and the Sinara Group have a joint venture called Ural Locomotives, which produces Lastochka electric trains. In March, the head of Russian Railways, Oleg Belozerov , said that Siemens had suspended the contract for the supply of new Sapsan high-speed trains to Russia.

Siemens in Russia works in all traditional areas of its activity, is present in more than 40 cities and is one of the leading suppliers of products, services and integrated solutions for the modernization of key sectors of the economy and infrastructure, the company's website . says It has about 2,700 employees in Russia. Turnover in fiscal year 2021 in the country amounted to 834 million euros.