Sulzer, Medmix sanctioned in Poland over Vekselberg ties

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The emblem is noticed on the plant of Sulzer Mixpac AG of Swiss engineering team Sulzer AG in Haag, Switzerland July 5, 2019. REUTERS/Arnd Wiegmann

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ZURICH, Would possibly 16 (Reuters) – Sulzer (SUN.S) has to briefly droop the actions of its two felony entities in Poland because of sanctions levied through the Polish govt on Russian minority shareholder Viktor Vekselberg, the Swiss engineering team stated.

“The possible have an effect on on gross sales, if the suspension had been to final, is restricted to 21 million Swiss francs, representing 0.6% of Sulzer’s general gross sales in 2021,” the crowd added in a commentary.

“The Polish sanctions practice to Sulzer’s minority shareholder, Viktor Vekselberg, and feature been expanded over Sulzer’s two Polish entities, even supposing Mr. Vekselberg has no keep watch over or possession of any Sulzer entity and is disadvantaged of all his financial rights at Sulzer. The corporate isn’t sanctioned in every other nation or felony entity and is as a result in a position to proceed to expand its trade globally,” it stated.

Swiss-based Medmix (MEDX.S) additionally stated it used to be postponing operations at its production web page in Wroclaw, Poland, on account of sanctions levied through the Polish govt on minority shareholder Vekselberg.

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Reporting through Michael Shields; modifying through Rachel Extra and Jason Neely

Our Requirements: The Thomson Reuters Believe Rules.

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