As the Ukraine crisis continues, fastener companies worldwide have been reacting to the news with contract terminations, operation pauses and monetary donations.
Starting immediately, Bulten has decided to exit its operations in Russia. Currently, the company has 125 employees in Russia and has been running its business through a Joint Venture with automotive manufacturer GAZ. Bulten has made the decision to move all Russian-made production for external markets to Europe. The ambition is for the process to occur in a controlled way to secure obligations towards employees, customers and other business partners.
Voss Edelstahl GmbH, a stainless steel and aluminium distribution in Germany, also confirmed it has cancelled its entire Russian order backlog of a few hundred tonnes of aluminium profiles, despite potentially leading to Voss Group suffering inventory gaps.
Koelnmesse is closely following current developments in Ukraine and in accordance with the measures and requirements of the German Government, it is suspending its cooperation with Russian companies at its trade fairs until further notice.
Judith Leyendecker, communications manager at Koelnmesse explains: “We will remain in contact with our partners in Russia, some of whom we have worked with for many years now. Although they have been banned from participating de facto, we do not place blame on them for the current developments. We have been especially pleased to know that our on-site sales team is doing well considering the circumstances. Our thoughts are with them and we will provide our team with all the support we can from Cologne.”
Elsewhere, Lesjöfors Group has decided to pause all operations in Russia until further notice. Ola Tengroth, CEO at Lesjöfors Group, commented: “The Lesjöfors company in Russia stores and sells parts mostly to the automotive aftermarket industry but also offers our standard assortment to the Russian market. We have taken the decision to suspend all sales and shipments to Russia for the time being. Our group management continuously monitor and evaluate the long-term consequences on the Russian market. Our highest priority at this stage is to support our colleagues in the region. We will also support local initiatives across our group to help the Ukrainian people.”
Additional aid is also being offered by fastener companies, with Berner Group donating €200,000 for people in Ukraine. Atlas Copco has also made a donation of 1 million Swedish Kronor (approximately €92,000) to the United Nations High Commissioner for Refugees (UNHCR), the UN organisation dedicated to saving lives and protecting the rights of refugees. The donation contributes to the NGO's efforts to help those seeking protection from the war in Ukraine.
"We want to contribute to UNHCR's efforts to keep those who are forced to flee their homes sheltered and safe. I am also proud to see the many local fundraising initiatives and other initiatives organised by our employees to support our people in Ukraine. Through our main Water for All social responsibility initiative we are looking for other ways to support these initiatives," comments Mats Rahmström, President & CEO of Atlas Copco Group.
Having spent a decade in the fastener industry experiencing every facet – from steel mills, fastener manufacturers, wholesalers, distributors, as well as machinery builders and plating + coating companies, Claire has developed an in-depth knowledge of all things fasteners.
Alongside visiting numerous companies, exhibitions and conferences around the world, Claire has also interviewed high profile figures – focusing on key topics impacting the sector and making sure readers stay up to date with the latest developments within the industry.
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