Caterpillar's Russian assets transferred to firm owned by Armenian fund

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Caterpillar News

Russian Company Filings,Vladimir Putin,Caterpillar Financial

Caterpillar Inc suspended operations in its manufacturing facilities in Russia in 2022, joining a number of foreign companies that halted business in the...

- U.S. machinery maker Caterpillar's former Russian assets have been transferred to a company owned by Armenian investment fund Balchug Capital, Russian company filings showed.

Balchug Capital and Caterpillar, which makes machinery for the construction, mining and oil and gas industries, did not immediately reply to a request for comment.Putin's decree specified that PSK-New Solutions could buy 100% of the charter capital in Caterpillar Tosno and Caterpillar Financial as a response to Western sanctions.PSK-New Solutions was registered in August 2022, according to Interfax news agency's Spark database.

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