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IPG Photonics Corporation released a statement saying that it hopes that the tragic crisis in Ukraine reaches a resolution as swiftly as possible and that the company's thoughts are with all of those who have been impacted.

IPG stated that its top priority "continues to be the safety and well-being of our employees and their families – including our nearly 2,000 colleagues in Russia."

Based on the state of the situation, IPG has suspended new investments in its Russian operations, curtailed development projects (shutting down some existing projects) and have made progress towards shifting manufacturing capacity from Russia to its facilities in Western Europe and the U.S. The company is closely monitoring events and provide business updates as appropriate.

Labels: IPG Photonics,Ukraine,Russia,manufacturing,lasers

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