It is difficult, but not impossible, for domestic companies that have made large investments in Russia to say goodbye. Most fear high financial losses. Two big companies have made it, others are struggling.
At the start of the war, 650 Austrian companies had branches or subsidiaries in Russia. Among them are many industrial top companies, from OMV to Alpla (packaging, four branches), Palfinger (cranes etc., three own productions), Egger (chipboard, two factories), Greiner (three branches), Lasselsberger (building materials) and Agrana , just to name the most important. Production is mostly for the Russian market. Leaving or closing is a problem, especially when you have a large investment to lose.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
