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Siemens AG Wittelsbacherplatz 2 80333 München, Germany http://www.siemens.com
Contact Mr Florian Martens +49 162 2306627
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Siemens AG

Siemens to wind down Russian business

(PresseBox) (Munich, Germany, )
Siemens will exit the Russian market as a result of the Ukraine war. The company has started proceedings to wind down its industrial operations and all industrial business activities. The financial impact of this decision will be reported as part of the regular disclosure on the second quarter results today on May 12, 2022.

After the start of the war, Siemens put all new business in and international deliveries to Russia and Belarus on hold. The comprehensive international sanctions, as well as current and potential countermeasures, impact the company’s business activities in Russia, particularly rail service and maintenance.

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