Brief: Rational AG To Begin Controlled Exit From Russian Market

Rational AG

03/06/2022 12:36

June 3 (Reuters) - Rational AG  RAAG.DE :
    * RATIONAL TO BEGIN CONTROLLED EXIT FROM RUSSIAN MARKET
    * ON JUNE 1, 2022, SUPERVISORY BOARD AND EXECUTIVE BOARD OF
RATIONAL AG VOTED UNANIMOUSLY TO SUSPEND BUSINESS OPERATIONS IN
RUSSIA AND TO CLOSE ITS DISTRIBUTION COMPANY, BASED IN MOSCOW,
BY END OF 2022
    * RATIONAL HAS MADE THIS DECISION IN RESPONSE TO ECONOMIC
AND
POLITICAL DEVELOPMENTS RESULTING FROM RUSSIAN WAR IN UKRAINE
    * COMPANY'S WITHDRAWAL WILL BE GRADUAL AND CONTROLLED SO
THAT IT
CAN CONTINUE TO MEET EXISTING CUSTOMER AND EMPLOYEE OBLIGATIONS
    * IN TERMS OF FINANCIAL IMPLICATIONS, RATIONAL IS CONFIDENT
THAT
LOSING RUSSIAN MARKET WILL NOT HAVE A SIGNIFICANT IMPACT ON
BUSINESS RESULTS

Further company coverage:  RAAG.DE 

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