Xerox exits Russia and divests the business to local management
Since the start of the Russian full-scale invasion of Ukraine, the American company Xerox announced the cessation of all supplies to Russia, leaving only “limited operations” in compliance with all relevant government sanctions. Now, on the 595th day of the war, the company has updated its statement to inform that it is selling its Russian subsidiary to local management and finally exiting Russia.
- At the onset of the full-scale war, Xerox “limited its operations in Russia”. These These limited operations included business with only specific clients and partners in full compliance with all applicable government-issued sanctions against the aggressor state.
- Xerox is now exiting its remaining operations in Russia and divesting the business to the local management through the sale of its Russian subsidiary. The details of the deal are undisclosed.
- According to Economichna Pravda with reference to the Russian mass media, “Xerox (CIS)” LLP will continue to work as an independent organization, will change its name in the near future, and will not be associated with the Xerox Corporation.