Danish engineering company Danfoss to exit Russia, Belarus

MINSK. April 4 (Interfax) - Danfoss, a Danish engineering company, is preparing to leave the Russian and Belarusian markets, the company said in a press release.

"After pausing our business operations in Russia on February 28 and in Belarus on March 4, we have continuously evaluated the situation. Considering the effects of sanctions, supply chain disruptions and other logistical challenges, we have decided to initiate a controlled exit from Russia and Belarus," Danfoss said.

"Accordingly, Danfoss has initiated the process, and we are considering various options. We continue to prioritize the safety and wellbeing of our Russian and Belarussian teams and their families," the company said.

Danfoss, which has been operating in Russia since 1993, is a leading manufacturer of thermal instrumentation, refrigeration and power equipment, and industrial automation systems.