Food ingredients giant Kerry Group announces it is suspending all operations in Russia and Belarus in response to the ongoing war in Ukraine.
The Dublin and London-listed company – which employs around 250 people in Russia and Belarus – said it made the decision after extensive stakeholder consultation.
“Kerry Group has continuously monitored developments in Ukraine and we are horrified by the escalation of the humanitarian crisis,” the company said in a statement to the London Stock Exchange.
“Over the past few weeks, the group has reduced its activities in Russia and Belarus.
“Following extensive ongoing consultations with stakeholders, the group today announces that it is suspending its operations in Russia and Belarus.
The statement adds: “This suspension will be managed in an orderly manner, during which the company will continue to pay employees and meet its legal obligations.”
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Kerry, one of the last Irish companies to continue operating in Russia after the invasion of Ukraine, had come under pressure in recent days to pull out of the country.
Billy Kelleher, Southern Ireland MEP Fianna Fáil, last week wrote to Kerry Group chief executive Edmond Scanlon, urging the company to follow other Irish multinationals – like CRH and Smurfit Kappa – and withdraw from the Russian market.