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Drinks And FMCG Companies Shut Ukraine Operations And Watch For Sanctions As Russia Attacks

Danish brewer Carlsberg and a Coca-Cola bottler shut their plants in Ukraine on Thursday following Russia's invasion while firms making goods from jet engines to semiconductors warned that supplies of key raw materials could suffer.

Carlsberg, which has a 31% share of Ukraine's beer market, halted production at all three of its breweries in the country, while Coca-Cola HBC noted it had triggered its contingency plans which included shutting its bottling plant.

Nestlé: Monitoring The Situation

Other international companies with staff in Ukraine such as Swiss consumer goods giant Nestlé said they were monitoring the situation closely and the safety of staff was their highest priority.

Nestlé has been in Ukraine for more than 25 years and has three factories and about 5,000 employees there.

Invasion

Russian forces invaded Ukraine by land, air and sea on Thursday, confirming the worst fears of the West with the biggest attack by one state against another in Europe since World War Two.

Many companies with significant exposure to Russia said they were still waiting to see the full force of Western sanctions before deciding on any action, although backers of the suspended Nord Stream 2 gas pipeline were already taking a hit.

Washington imposed sanctions on the company behind Nord Stream 2 on Wednesday and European Union leaders are meeting later on Thursday to decide what punitive measures they will impose as retribution for Russia's attack.

News by Reuters, edited by Donna Ahern, Checkout. For more A-brand news, click here. Click subscribe to sign up for the Checkout print edition.

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