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Kerry Group And Other Irish Firms Suspend Operations In Russia

By Donna Ahern
Kerry Group And Other Irish Firms Suspend Operations In Russia

Ingredients giant Kerry and insulation maker Kingspan on Monday said they had ceased operations in Russia, completing the departure of most major Irish companies from the country as the result of its invasion of Ukraine.

Kerry Group said in a statement that it had been monitoring the situation in Ukraine and was horrified at the escalation of the humanitarian crisis, and would be suspending its operations in Russia and Belarus.

'Deeply Saddened'

Kingspan said it was 'deeply saddened by the growing humanitarian crisis as a result of Russia's unjustified attack on Ukraine and its people' and it had sold its operations in the country to local management.

Russia accounts for less than 1% of Kingspan's global operations and following this action, Kingspan products will no longer be available for sale in Russia, the company said in its statement.

'Infinitesimally Small'

Ireland's CRH, the world's second-biggest building materials supplier, ceased operating what it described as 'infinitesimally small' Russian operations in early March. It also temporarily shut its much larger plants in Ukraine.

Last week, Europe's largest paper packaging producer Smurfit Kappa said it would exit Russia and had suspended imports, exports and funding in the country.

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