CNH Industrial, the parent company of Case and New Holland, divested from Russia for a total consideration of approximately USD60 million. This follows the company’s announcement in March 2022 that it was suspending supplies to this market. 

CNH has been guaranteeing payment of employee salaries and other administrative expenses in Russia to date.

Until March 2022, the company operated a corporate office in the Moscow region through which it managed the import and distribution of its products in Russia, regional business activities and commercial financing. Its industrial footprint included manufacturing sites for agricultural equipment and implements, and construction equipment, and a parts depot. These sites employed approximately 200 employees.

For the fiscal year ending 2021, the last full year of operations, the Russian operations generated revenue of approximately USD380 million, representing 2% of the company’s consolidated revenue in 2021. 

A CNH statement acknowledges former employees for their years of dedicated service.

Last month, Konecranes delivered its final cranes to Russia for a European customer.

After Russia’s invasion of Ukraine in 2022, Konecranes – like most Western materials handling suppliers - said it would stop taking new orders from Russia. It also stated a clear intention to wind down business in the country.

Konecranes’ final order, cranes for a waste-to-energy recycling site outside Moscow, was placed in 2019 by a European company and subsequently delayed by Russia’s invasion of Ukraine. 

“Konecranes will have no further outstanding orders to Russia,” the company says in a statement.

In March 2022, shortly after Russia invaded Ukraine, a number of materials handling manufacturers took a strong stand against the Russian invasion of Ukraine, halting their trade in the country and making contributions to Ukrainian charities.