Swiss oil and gas equipment manufacturer Sulzer is from Russia

The Swiss concern, which produces oil and gas equipment, Sulzer announced its withdrawal from the Russian market after the Russian invasion of Ukraine. According to the company, the process of selling assets will begin immediately.

The supervisory board "regrets that after decades of work in Russia it is necessary to make such a decision, but after careful consideration of possible options came to the conclusion" that this is the best way out for all stakeholders, said in a press release.

The report notes that Sulzer has 300 employees in Russia (about 14,000 worldwide).

Sulzer manufactures and maintains pumps, machines, and other industrial equipment for the petroleum, petrochemical, pulp and paper, and other industries. The portfolio of orders for 2021 amounted to about 3.2 billion Swiss francs.

In Russia, Sulzer has several subsidiaries - Zulzer Turbo Services Rus (service of gas turbines, among customers - Gazprom Energoholding), Zulzer Hemtech (production and maintenance of heat exchangers and other equipment for fuel and energy and petrochemicals), Zul pumps.