Twin Disc, Inc., a global provider in power transmission technology for marine, land-based, and oil & gas applications, announced today it will cease business activity in Russia and Belarus until further notice due to the ongoing invasion in Ukraine, effective immediately.
In light of the challenging operating environment, supply chain issues, and evolving sanctions, Twin Disc has paused all sales and shipments to Russia and Belarus. The Twin Disc presence in these countries is limited, in both marine and land-based markets. The impact on Twin Disc’s financial results is not expected to be material.
While the company does not have employees based in Eastern Europe, for the safety of their business partners, distributors, and customers, Twin Disc will conduct business in Ukraine only in emergency situations.
“What is happening in Ukraine right now is tragic, and the bravery and resilience of the Ukrainian people are an inspiration to the world. We remain focused on the well-being of our employees and associates impacted by these hostilities,” said John H. Batten, Chief Executive Officer.
The situation is being continuously monitored and evaluated. Twin Disc remains in communication with all relevant stakeholders and will continue to provide updates when appropriate.
