Xerox has announced a complete cessation of supplies to Russia
Xerox Holdings has suspended all supplies to Russia indefinitely. This was stated by CFO Xavier Hayes.
“Nothing is going to the country,” – Hayes commented.
The company’s CFO added that in Russia and Ukraine, representative offices are registered for various legal entities. In addition, he stressed that the company does not receive significant revenues in Russia and monitors the implementation of existing sanctions.
Hayes said he was aware of the threat of the potential “nationalization” of assets by Russia.
On Wednesday, the company’s shares rose 3.25% compared to the previous day.
Xerox Holdings has a market capitalization of $ 2.98 billion and is expected to publish its quarterly profit and loss statement in April.
On March 13, the company announced the provision of cash grants to every employee in Ukraine. Xerox provided additional assistance to the Red Cross and Save the Children.
