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3/10, 1:13 AM (Source: TeleTrader)
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Caterpillar suspends production in Russia

Caterpillar Inc. became the latest company to suspend its business in Russia after the engineering giant announced the closure of its plants in the country.

The company said supply chain disruptions and sanctions implemented against Moscow over its military operation in Ukraine have made operations in Russia "increasingly challenging." The manufacturer added that it intends to comply with the laws and remain focused on its "employees, dealers, and customers."

Shares of Caterpillar shed 0.42% to $208.90 in after-hours trade on Wednesday.

Baha Breaking News (BBN) / NL