Xerox sold business in Russia to local management
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The American office equipment manufacturer Xerox has completed its exit from the Russian market by selling the local business to top management, the company’s press service reported.
Xerox (CIS) LLC now continues to operate as an independent organization; in the near future it will change its name and will no longer be associated with the American corporation. The company’s employees, as the press service emphasized, have retained their jobs, and the company will continue to cooperate with its clients and suppliers. Terms of the deal were not disclosed.
“We will not only provide full support within the framework of current contracts, but also launch new projects in Russia,” Anton Borodikhin, president of Xerox (CIS) LLC, commented on the deal.
Xerox opened a Russian division in 1993. The company develops solutions for managing printing infrastructure, automating business processes, and also supplies paper products. In March 2022, shortly after the start of the special operation in Ukraine, Xerox limited the export of goods to Russia.
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