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The Kerry Group ceases operations in Russia

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The Kerry Group says it has suspended operations in Russia and Belarus. The Irish food giant said it has been continuously monitoring the evolving situation in Ukraine and “we are appalled at the escalation of the humanitarian crisis”.

The group announced Monday that it was ceasing operations in Russia and Belarus.

“This suspension will be handled in an orderly manner while the company continues to pay employees and honor our legal obligations,” the group said in a statement.

The company employs around 250 people in Russia and Belarus, mainly in research and development and production facilities in Moscow.

The move follows pressure, including from Ireland South MEP Billy Kelleher, who wrote to Kerry’s Chief Executive Edmond Scanlon last week, urging the Tralee-headquartered group to follow other multinationals and to protest the invasion of Ukraine to leave the Russian market, even if this is not the case under the sanctions regime.

CRH and Smurfit Kappa have already announced their exit from the Russian market and Kerry’s move leaves insulation manufacturer Kingspan the last major Irish company still operating in the country.

https://www.independent.ie/business/irish/kerry-group-suspends-operations-in-russia-41519203.html The Kerry Group ceases operations in Russia

Fry Electronics Team

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