Alstom suspends supplying and investing in Russia - company

MOSCOW. March 9 (Interfax) - France's Alstom SA is suspending supplies and future investments in Russia, the group said in a statement.

"The group will certainly comply with all applicable sanctions and laws, and has taken the decision to suspend all shipments to Russia," the company said. "Alstom also confirms the suspension of all future business investments in Russia."

As a capital investment, Alstom owns a 20% stake in Transmashholding, a Russian supplier of locomotives and railway equipment primarily serving the local market. According to the group, there were no significant business or operational ties between Alstom and Transmashholding. The balance-sheet value of Transmashholding will be reassessed as part of the closing of accounts for the 2021-2022 financial year. For the first half of 2021-22, the balance-sheet value of Alstom's stake in Transmashholding was 482 million euros.

Alstom also said that it had suspended negotiations on developing a partnership with the Ukrainian railway operator owing to the situation there.