Building materials company Kingspan and food and ingredients firm Kerry Group have become the latest Irish companies to take decisions regarding their operations in Russia as the war in Ukraine continues.
Kingspan said in a statement that it had sold its operations in the country to local management after deciding to exit Russia in early March shortly after Russia first invaded neighbouring Ukraine.
The company has two production facilities in Gatchina near St Petersburg and in Nevinnomysk, outside Stavropol in south-east Russia, employing a combined total of 180 staff, but Russia accounts for less than 1% of its global operations.
Whilst our decision to exit was made in early March it has taken several weeks to ensure that it could be completed in an orderly fashion, with the safety and welfare of our staff as a key priority," Kingspan said.
"Kingspan is deeply saddened by the growing humanitarian crisis as a result of Russia's unjustified attack on Ukraine and its people."
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The Cavan-based company previously said it was monitoring the situation in Ukraine and that it was determined to reach the right decision on its Russian business.
Kingspan said on Monday evening, however, that its products would no longer be available for sale in Russia, and it has also donated $750,000 to Unicef to establish five centres to assist refugees on the Ukrainian border. It is believed the sale and associated costs will result in a small loss for the firm.
The announcement came after Kerry Group announced it had suspended operations in Russia and Belarus, whose President Aleksandr Lukashenko is a close ally of Russian President Vladimir Putin.
"Kerry Group has continuously monitored the unfolding situation in Ukraine and we are horrified at the escalation of the humanitarian crisis," the company said.
"Over the last number of weeks the group has scaled back activities in Russia and Belarus. Following extensive ongoing consultation with stakeholders, the Group announces today that it is suspending its operations in Russia and Belarus.
"This suspension will be managed in an orderly manner, during which the company will continue to pay employees and fulfil our legal obligations."
Kerry has operated in Russian since 2006 and has opened R&D and manufacturing facilities in Moscow over the past decade. The group currently employs more than 250 in Russia and Belarus.
The decisions come after paper and packaging group Smurfit Kappa and building materials company CRH announced they would also pull out of Russia.
(Pic: Getty Images)
