logo
  

Rockwell Automation Suspends Operations And Sales In Russia

Rockwell Automation, Inc. (ROK) Monday announced that it is suspending operations and sales in Russia and Belarus, effective immediately, in response to Moscow's invasion of Ukraine.

"Rockwell joins the U.S. government and the global community in condemning Russia's attack on Ukraine and its citizens," said Blake Moret, Chairman & CEO of Rockwell Automation, emphasizing that the company supports all U.S. sanctions.

Rockwell said it has made a financial contribution to Project HOPE to provide humanitarian relief to refugees in Ukraine and neighboring countries.

Sales to Russia and Belarus represent less than 0.5% of Rockwell's total revenue, the company said. The company will continue to pay salaries and benefits for its roughly 30 Russian team members.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Shares of Deutsche Post DHL Group were gaining around 6 percent in the morning trading in Germany after the package delivery and logistic major reported Friday higher profit and revenues in its second quarter with strong demand. Going ahead, the company confirmed its 2022 EBIT guidance of 8.0 billion euros, plus or minus 5 percent, even in consideration of a possible global economic downturn. Chinese e-commerce giant Alibaba Group Holdings Ltd. (BABA) reported Thursday net income for the first quarter halved from last year, hurt by a 1 decline in revenues and a decrease in the market prices of its equity investments in publicly-traded companies. Shares of Deutsche Lufthansa AG were gaining around 6 percent in the morning trading after the German flag carrier reported Thursday a profit in its second quarter, compared to last year's loss, benefited by surge in demand. The company also specified its outlook for the year, and now expects adjusted EBIT to be above 500 million euros for the full year of 2022, in line with current market.
Follow RTT