President Vladimir Putin issued a decree granting PSK – New Solutions LLC the right to acquire the Russian assets of the American company Caterpillar. The official decree has been published on the portal of legal information, confirming this development. of legal information.
According to the decree, PSK is authorized to complete deals that result in a 100 percent ownership of Caterpillar Tosno and Caterpillar Financial. The assets in question include the Caterpillar facility located in the Leningrad region. of legal information.
The document notes that no additional permissions, decisions, or approvals foreseen by the Russian Federation’s legislation are required to finalize these transactions. This streamlines the path for PSK to execute the purchase. of legal information.
Caterpillar is one of the world’s leading manufacturers of construction and mining equipment, with a product range that includes diesel engines, power systems, and earthmoving machinery. corporate materials.
In March 2022, Caterpillar announced a suspension of operations in Russia, attributing the move to sanctions and disruptions in global supply chains. The decision reflected a broader shift in how multinational manufacturers managed exposure to the Russian market. company statement.
Earlier, Swedish developer Bonava reportedly exited the Russian market, marking another example of strategic pulls from the region by international firms. announcements.