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French electrical equipment manufacturer Legrand will stop working on the Russian market

PARIS, January 25 – RIA Novosti. French electrical equipment manufacturer Legrand has announced that it will cease operations in the Russian market “due to the current conditions”.

“Due to the current circumstances, including the increasing complexity of operations and instability, Legrand has decided to cease operations in Russia and is currently exploring options to transfer control in a timely and orderly manner,” the company said in a press release.

It is noted that the company’s business in Russia was 1.5% of its annual sales last year.

“Legrand is confident that leaving the Russian market is the best option to comply with the law, while ensuring long-term operations for employees and customers,” the text reads.

Source: Ria

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