Posts Tagged ‘ Ukraine ’

Guardian Glass Sells Plants in Russia

Jul 28th, 2022

Guardian Glass has sold its business in Russia, which included two glass plants employing approximately 600 people. The purchaser is a private enterprise in the construction industry. Dave Robertson, president and COO of Koch Industries, parent company of Guardian Glass, says the exit strategy maintains the company’s commitment to employee safety while preventing the Russian […]

Federal Reserve Hikes Interest Rates By 0.75% to Combat Rising Inflation

Jun 17th, 2022

The Federal Reserve raised the stakes in the fight to combat rising inflation on Wednesday, hiking interest rates by 0.75% in an effort to douse cold water on historic inflation. Door and window industry executives say the increase is necessary but it is likely to test companies’ resolve. Recording-Breaking Rates The rate hike is the […]

REHAU Group Sells Business in Russia

May 26th, 2022

After announcing in March that it would scale down its operations in Russia in a controlled manner, REHAU Group will now sell its business in the country to the local management and withdraw completely. REHAU, headquartered in Muri, Switzerland, wrote in a news release that it has been active in Russia for 30 years serving […]

Koch Industries to Close Glass Plants in Russia

Apr 26th, 2022

Koch Industries, the parent company of Guardian Glass, is calling for employees to shut down its two glass plants in Russia as a number of factors related to the invasion of Ukraine have made continued operations “untenable.” However, employee safety is a continued concern even with the announcement. Writing in a news release, Koch Industries’ […]

United States, EU Throw Weight Behind Sanctions

Apr 5th, 2022

Financial sanctions have dealt a “pretty significant blow” to Russia, says Isabelle Icso, director of international policy at the U.S. Chamber of Commerce in Washington, D.C. More sanctions are likely on the way courtesy of the U.S. and the European Union (EU), all while markets rile, and businesses leave to protect their profits and reputations. […]

VELUX Group Permanently Closes its Operations in Russia and Belarus

Apr 4th, 2022

VELUX Group recently announced that it has decided to permanently close its operations in Russia and Belarus. The decision follows the company’s suspension of all activities in Russia and Belarus last month in connection with the invasion of Ukraine. VELUX Group says it will exit these two markets as soon as possible. All obligations to […]

Koch Responds: Here’s why it’s not Shutting Down its Russian Float Lines

Mar 31st, 2022

Two weeks ago, Koch Industries president and COO Dave Robertson was criticized by a number of mainstream media outlets for stating the company was not shutting down its two Guardian Glass float lines in Russia. Robertson said, “While Guardian’s business in Russia is a very small part of Koch, we will not walk away from […]

Supply Chain Nightmares

Mar 17th, 2022

Just when you thought the supply chain nightmare was starting to let up, a war breaks out in Ukraine. With the recent economic sanctions being put into place against Russia, how will this war exacerbate the global supply chain headaches that emerged last year, and is this a temporary crisis or one that will have […]

REHAU Group Suspends Operations in Russia

Mar 8th, 2022

As a company that operates in Ukraine, as well as in Russia and Belarus, REHAU Group has announced that it has “suspended … operations in Russia and Belarus until further notice.” In a company press release issued on Monday, March 7, the company indicated the desire to emphasize the corporate positions that: “We strongly condemn […]

FGIA Economic Outlook Addresses Turmoil in Europe and COVID Recovery

Mar 7th, 2022

Dr. Chris Kuehl, managing director of Armada Corporate Intelligence, provided an economic outlook for the United States and Canada during the Fenestration and Glazing Industry Alliance (FGIA) 2022 Annual Conference that took place last week in Amelia Island, Fla. He addressed the mounting challenges and potential impacts of the Russian invasion of Ukraine. Ukraine and […]

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