Business
Russia takes control of Swiss-based JTI’s local operations
Russia has placed the Russian operations of Geneva-headquartered Japan Tobacco International under compulsory administration, transferring its assets to a Russian company. JTI says it has four factories and more than 4,000 employees in the country.
Moscow has put JTI’s Russian operations under compulsory administration, transferring their assets to a Russian company. The move places the local business of Geneva-headquartered Japan Tobacco International under Russian control. JTI says its Russian operations include four factories and employ more than 4,000 people.
Track the Asset Transfer
The transfer shifts control of the local assets to a Russian company. Compulsory administration places JTI’s Russian business under a state-imposed arrangement, separating control of those assets from the Geneva-headquartered group. The move directly affects a substantial operation: JTI says it runs four factories in the country and has more than 4,000 employees there.
Map JTI’s Russian Footprint
JTI’s Russian footprint combines manufacturing and a workforce of more than 4,000. The company says it has four factories in the country, placing the administration order over a sizeable local operation. The measure concerns JTI’s Russian units and their assets, while the group’s headquarters remain in Geneva.
Watch the Swiss Connection
The decision puts a Geneva-based multinational’s Russian assets under new control. For JTI, the local business includes four factories and more than 4,000 employees, according to the company. The compulsory administration order transfers the assets to a Russian company, bringing the Swiss-headquartered group’s operations in Russia under a different operator.