MILWAUKEE — Two of the Milwaukee-area's largest manufactures, Rockwell Automation and Johnson Controls, are now pulling out of the Russian market over its invasion of Ukraine.
Johnson Controls' CEO said Tuesday it is suspending new business in Russia while also fulfilling existing contracts, our partners at the Milwaukee Business Journal report.
JC has about 160 workers in Russia. The company has a revenue from Russia of about $150 million per year. Total revenue in 2021 added up to $23.67 billion for the company.
Rockwell meanwhile is suspending operations and sales in both Russia and Belarus effective immediately, according to the BizJournal.
Russia and Belarus sales add up to less than half a percent for Rockwell's total revenue. Total revenue in 2021 was $7 billion for the company.
But they will continue paying salaries and benefits for their 30 Russian employees.
The moves by these two companies come after Milwaukee-based Harley-Davidson Inc. and dozens of other major American companies have cut economic ties with Russia over the war in Ukraine.
On Tuesday President Joe Biden announced a ban on Russian oil and other energy imports. Oil prices rose 5 percent following the announcement.