As the war in Ukraine carries on, Otis Elevator mentioned Wednesday it offered its functions in Russia to a corporation based in that state.

Phrases of the deal with Ice Improvement, which Farmington-primarily based Otis introduced on the company’s website site, have been not introduced. The sale will come just after a March announcement by Otis Elevator officials that the business would stop using new products orders and stop investing in Russia in the aftermath the invasion of Ukraine before this 12 months.

“After diligently thinking about the world wide impacts and outcomes of the ongoing crisis and humanitarian tragedy across Eastern Europe, which include supply chain disruptions and mounting rules, we decided that Otis’ possession of our organization in Russia is no more time sustainable,” Otis stated in a well prepared statement. “The sale of the company will provide a additional particular foreseeable future for community colleagues, shoppers and Otis shareholders.”

In its release, Otis All over the world Corp., as the business is formally recognized, described Ice as “a Russian-based expense enterprise with a concentrate on the genuine estate sector and overseeing huge-scale household construction such as developing restoration projects.”

The Russian business “expects to resume complete output at the Otis St. Petersburg producing site, under a new manufacturer name,” Otis mentioned.