According to reports, CPR, a condom producer in Saxon, in Germany, recently announced that the company no longer has the ability to pay for and had to apply for bankruptcy. As the largest condom producer in Germany, the manufacturer has more than 200 million condoms per year, so the manufacturer is also the largest condom manufacturer in Europe. Before the start of the Russian and Ukraine War, the company’s CEO showed that he was full of confidence in the future of CPR.
The war undoubtedly brought a fatal blow to the manufacturer: CPR products exported to multiple countries, including Russia, and the market accounted for a quarter of its turnover. After the outbreak of military conflicts in Ukraine, Russia, various financial sanctions in the West, which means that the delivery of the manufacturer and the Russian market cannot be settled in the euro. Business became one of the first cases of bankruptcy in Germany’s first batch of sanctions on Russia.
Post time: Apr-28-2022