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Danfoss to exit Russia and Belarus

DENMARK: Leading HVACR component manufacturer Danfoss says it is planning a “controlled exit” from activities in Russia and Belarus as a result of the war with Ukraine.

Danfoss says it has been continuously evaluating the situation since pausing its business operations in Russia on February 28 and in Belarus on March 4. 

Yesterday, Danfoss announced: “Considering the effects of sanctions, supply chain disruptions and other logistical challenges, we have decided to initiate a controlled exit from Russia and Belarus.

“Our thoughts and prayers are with the Ukrainian people and everyone else suffering from the war. Our number one priority remains the safety and security of our employees and their families.”

Danfoss says it has initiated the process, and is considering various options. 

“Our teams in Russia and Belarus are outstanding, and that makes this decision so much harder. We regret the decision, but in the current situation, we do not see any other option. We continue to monitor the situation and to act in full compliance with all sanctions as they develop.

“We continue to prioritize the safety and wellbeing of our Russian and Belarussian teams and their families,” the company added.

Danfoss has been operating in Russia since 1993. It has an office in Moscow, which is thought to employ around 25 people. It also owns heat exchanger manufacturer Ridan in Nizhny Novgorod.

Related stories:

Daikin suspends Russian business15 March 2022
BELGIUM: Daikin is the latest air conditioning and heat pump manufacturer to suspend business in Russia following its invasion of Ukraine. Read more…

Mitsubishi Electric stops Russian shipments – 12 March 2022
JAPAN: Mitsubishi Electric Corporation has stopped shipments to Russia and donated €1m to support relief efforts in Ukraine. Read more…

Chemours joins companies shunning Russia – 11 March 2022
USA: Refrigerant manufacturer Chemours is the latest multinational to announce the suspension of business with Russia in response to the ongoing military conflict and humanitarian crisis. Read more…

Viessmann pledges €1m in Russian trade block – 8 March 2022
GERMANY: In a hard-hitting statement, German refrigeration and heating company Viessmann has announced that it has stopped all deliveries to and from Russia, including spare parts. Read more…

Panasonic suspends trade with Russia – 8 March 2022
JAPAN: The Panasonic Group has decided to suspend transactions with Russia. Read more…

Johnson Controls suspends business in Russia – 8 March 2022
USA: Johnson Controls has announced the suspension of its business in Russia in response to the invasion of Ukraine. Read more…

Alfa Laval cuts shipments to Russia – 7 March 2022
SWEDEN: Alfa Laval, a world leader in heat transfer, centrifugal separation and fluid handling, has announced a pause on all shipments in and out of Russia. Read more…

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