Lincoln Electric is ceasing its operations in Russia and will implement a plan to support its employees in the country.
News from the welding products manufacturer comes amidst the Russia-Ukraine war that has led to many global companies placing sanctions on Russia.
Christopher Mapes, Chairman, President and CEO of Lincoln Electric, said, “We are deeply saddened by the tragedy and humanitarian crisis unfolding in Ukraine and are compelled to cease our operations to align with our guiding principle, The Golden Rule.”
“Our priority at this time is the safety and support of our Ukrainian employees who serve in our eastern European facilities and our Russian employees.”
Lincoln Electric’s net sales in Russia are less than 1% of its global net sales.