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Siemens CEO says Russia sales have halved: newspaper

2015-04-12 13:47:14| Industrial Machines - Topix.net

German industrial group Siemens has seen sales in Russia plunge by about half due to the country's economic demise, Bild am Sonntag reported, citing chief executive Joe Kaeser. Automakers and other companies have been making cuts in Russia in response to effects of the weak rouble, which has been hammered by low oil prices, and Western sanctions imposed over Moscow's role in the Ukraine crisis.

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