Twin Disc yesterday announced it will discontinue all business activity in Russia and Belarus until further notice. The company cited the challenging operating environment, supply-chain issues and evolving sanctions as the primary reasons behind the decision.
The company said in a statement that its presence in these countries is limited, and that the financial impact is not expected to be material.
“What is happening in Ukraine right now is tragic, and the bravery and resilience of the Ukrainian people are an inspiration to the world,” Twin Disc CEO John H. Batten said in the statement. “We remain focused on the well-being of our employees and associates impacted by these hostilities.”
Twin Disc added that for the safety of its business partners, distributors and customers, it will conduct business in Ukraine only in emergency situations. The company says that it does not have employees based in Eastern Europe.