Brief: IPG Photonics Announces Continued Production At Russian Operations

IPG Photonics

03/03/2022 14:28

March 3 (Reuters) - 
    * IPG PHOTONICS ANNOUNCES CONTINUED PRODUCTION AT RUSSIAN
OPERATIONS
    * IPG PHOTONICS ANNOUNCES CONTINUED PRODUCTION AT RUSSIAN
OPERATIONS
    * IPG PHOTONICS CORP - HAS MAJOR PRODUCTION AND RESEARCH AND
DEVELOPMENT FACILITIES AS WELL AS CLOSE TO 2,000 EMPLOYEES
LOCATED IN RUSSIA
    * IPG PHOTONICS CORP - SANCTIONS WILL INCREASE LEAD TIMES
AND
SHIPPING COSTS FOR COMPONENTS AND LASERS TO AND FROM IPG'S
RUSSIAN OPERATIONS
    * IPG PHOTONICS CORP - GIVEN RAPIDLY EVOLVING SITUATION,
INCREASED
RISK AND UNCERTAINTY, IPG IS WITHDRAWING ANNUAL GUIDANCE
    * IPG PHOTONICS CORP - HISTORICALLY, SALES TO RUSSIAN
CUSTOMERS
HAVE BEEN NOMINAL, TOTALING $30 MILLION IN 2021
    * IPG PHOTONICS-IF SANCTIONS OR OTHER DEVELOPMENTS
SUBSTANTIALLY
LIMIT ABILITY TO EXPORT COMPONENTS TO OR FROM RUSSIA, SALES MAY
BE MATERIALLY IMPACTED

Source text for Eikon:  ID:nGNX4J16tg 
Further company coverage:  IPGP.O 

 ((Reuters.Briefs@thomsonreuters.com;))