Koch Industries to stay in Russia, says exiting does more harm than

Thursday, March 17, 2022
author picture Raphael Thomas
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Video/image source : youtube, mediaproxy
Original content created by news.limited staff

After the Russian invasion of Ukraine‚ Koch Industries has faced criticism for continuing to operate in Russia. However‚ in a statement published on its website today‚ an executive said that exiting would do more harm than good. The company is the second largest privately held company in the United States and employs 14‚000 people in 26 countries. The president of Koch has donated millions of dollars to conservative causes‚ including the Republican Party. The multinational conglomerate is still small in Russia‚ but its presence is significant‚ and it says exiting would do more harm than good. While it is not yet a significant presence in the country‚ its operations have been profitable for decades. The company has invested more than $10 billion in two glass plants in the country‚ producing energy-efficient glass. It also employs nearly a thousand people there. While it is unclear if the company is going to withdraw from its Russian operations‚ it has defended its decision to stay in the country‚ which is contrary to its stated intentions.

koch industries to stay in russia says exiting does more harm than
Image source : mediaproxy

Although its presence in Russia is relatively small‚ it has a substantial impact on the region‚ according to Dave Robertson‚ the company's president and chief operating officer. Its efforts have helped the local economy while also contributing to the development of other nations.