Economics

Russia Ban Crushes German Companies’ Sales as Asia Gains

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Zeppelin GmbH, a German machinery provider that traces its roots to airship pioneer Count Ferdinand von Zeppelin, is used to political turbulence.

The company, which sells and services construction and mining equipment after breaking with aviation in 1950, endured a production stoppage after World War I and a U.S. embargo on helium supplies to fuel its airships after World War II. Now, caught in the backdraft of the Russia-Ukraine conflict, Zeppelin faces a sales decline of about 40 percent in those two countries as well as losing market share to Asian competitors in the process, said Chief Executive Officer Peter Gerstmann.