Holcim, the world’s largest cement company, has suspended investment in Russia while maintaining operations in the country, it announced today in response to Moscow’s invasion of Ukraine.
“We have decided to suspend further capital investment in Russia and we will not benefit from our presence in the market,” the company said in a statement.
“Activities in Russia are local, with more than 1,000 colleagues working in full compliance with all regulations. They will continue to provide local communities and people with the necessary building materials,” he added.
The Swiss company said last month that it expected a “very limited” direct impact from the conflict in Ukraine.
It has no operations in Ukraine and operations in Russia account for less than 1% of sales.
Source: Capital
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