1 Nov 2023 11:54

Manufacturer of road construction equipment Wirtgen exits Russian asset

MOSCOW. Nov 1 (Interfax) - Wirtgen Group, which manufactures road construction equipment, has exited its Russian asset, according to data in the Unified State Registry of Legal Entities (USRLE).

According to the USRLE, 100% of the shares in Wirtgen-International Service LLC (WIS) were transferred from Germany's Wirtgen International GmbH to MirDorTechnika LLC on October 30.

Miroslav Janic, who owns MirDorTechnika, is a senior manager at Wirtgen's Russian division. Janic was born in the former Yugoslavia, and he is a citizen of Russia according to the USRLE.

WIS, which distributes Wirtgen equipment in Russia, saw revenue fall sharply in 2022 from 13.3 billion rubles to 5.43 billion rubles.

Wirtgen has been part of the Deere & Co. group since 2017.