The Manitowoc Company announces reduced operations in Russia

Order Reprint

The Manitowoc Company leadership issued a statement saying the Milwaukee-based company has been reducing their operations in Russia. According to the statement from Aaron Ravenscroft, chief executive officer, this curtailing of operations has been ongoing since the start of Russiaโ€™s invasion of Ukraine over a month ago.

Aaron Ravenscroft

โ€œWhile doing our best to support our local team members, we have and will continue to comply with all sanctions and conduct our business in accordance with all applicable laws. The safety and well-being of our employees and their families are our top priorities,โ€ said Ravenscroft.

The Manitowoc Company, a manufacturer of engineered lifting solutions, has approximately 20 employees in Russia. Less than 2% of the companyโ€™s sales came from Russia in 2021. The company operates 10 manufacturing facilities around the world.

- Advertisement -

Some other Wisconsin companies have suspended their operations in Russia due to the invasion. In March, Johnson Controls (which has its operating headquarters in Glendale) leadership announced a suspension of business operations in Russia. The company has 160 employees in Russia and earns about $150 million of revenue a year from the country. The impact of ceasing business in Russia is expected to be โ€œimmaterial,โ€ the company said.

Also in March, Milwaukee-based Rockwell Automation and Racine-based Twin Disc suspended their business operations in Russia and Belarus. Neither company expects to see a major impact to their total revenue.

Milwaukee-based Harley-Davidson also ceased its business and shipment of bikes to Russia, according to a Reuters report.

Sign up for the BizTimes email newsletter

Stay up-to-date on the people, companies and issues that impact business in Milwaukee and Southeast Wisconsin

What's New

BizPeople

Sponsored Content

Holiday flash sale!

Limited time offer. New subscribers only.

Subscribe to BizTimes Milwaukee and save 40%

Holiday flash sale! Subscribe to BizTimes and save 40%!

Limited time offer. New subscribers only.