Aecom pulls out of Russia with immediate effect – New Civil Engineer

07 Mar, 2022 By Rob Horgan
Aecom has announced that it will “immediately exit” its business operations in Russia.
The engineering behemoth has announced that it will shut down its Russian business and exit all ongoing contracts in the region.
It expects to suffer a one-off financial hit of between £30M and £38M as a result of the decision.
Aecom employs 350 people across its Russian offices in Moscow and Saint Petersburg. It is unclear what will happen to these employees, however the firm’s global chief executive Troy Rudd said that they will be “provided support during this transition”.
“We support the people of Ukraine who are facing tremendous suffering as a result of Russia’s unlawful invasion,” Rudd said. “Russia’s actions are inconsistent with Aecom’s values and have compromised the business environment for Aecom, our clients and our joint activities in Russia.
“For Aecom, the impact of these actions is particularly unfortunate for our colleagues from our Russia business, and we have taken steps to provide them support during this transition. As always, our priority continues to be ensuring the safety, security and well-being of our teams throughout the region.”
Aecom has worked on around 2,000 schemes in Russia in the past 20 years.
Possibly the most high-profile job saw Aecom project manager the construction of the 87-storey Lakhta Centre (pictured above), in Saint Petersburg. Construction was complete in 2018 and at 462m tall it is Europe’s tallest skyscraper.
In a LinkedIn post, Aecom chief executive in Europe, UK/Ireland & India Colin Wood added: “Today Aecom announced it is immediately exiting its business operations in Russia. We employ so many talented people in the country, who have delivered some fantastic projects.
“We thank them for their hard work and dedication. As a global, diverse organisation we take great pride in the wide range of nationalities we employ across the world, and we join the global community in condemning Russia’s actions in Ukraine and expressing our concern for Ukraine and its citizens.”
A company spokesperson said that the financial impact to Aecom’s business “is not material” despite anticipating a hefty one-time expense.
The impact of the Ukraine conflict is likely to have major ramifications for global supply chains.
Last week, energy analysts suggested that the UK’s ongoing energy crisis looks “certain to last for years” after Germany pulled the plug on plans for the Nord Stream 2 gas pipeline between Russia and the EU.
Consequently, renewable energy advocates have called on the UK Government to accelerate the roll out of more wind and tidal projects at home to ensure the UK’s energy security.
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Good for AECOM. Respect
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