US’ Arconic sells Russian unit for $230 million
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Update time : 2022-11-17 18:26:27
Arconic Corp., a US company engaged in aluminum products manufacturing, sold its Russian branch to the major shareholder of Russia's state-owned titanium company VSMPO-AVISMA for US$230 million.
Due to Western sanctions against Russia over the war in Ukraine, Arconic's Chief Executive Officer Tim Myers said that operating in Russia has become more difficult, and the company's operating prospects in Russia have become increasingly uncertain owing to the current geopolitical environment.
