Several companies suspended production or limited production in Ukraine due to the Russian invasion on Thursday (24).
Companies making these announcements include Carlsberg, a Coca-Cola bottling company, snack food maker Mondelez and steel maker ArcelorMittal.
They join several airlines that have already suspended operations to Ukraine as their airspace has been closed.
Russia’s invasion of Ukraine has shaken global stock markets and sent the Russian currency to historically low levels.
ArcelorMittal
Writing on Twitter that it is “deeply concerned” about the situation in Ukraine, the steel maker said it had made plans for its employees to “stay safe”.
Regarding its plant, the company is “working to reduce production to the technical minimum and production will be halted at our underground mines,” ArcelorMittal tweeted.
“We all hope for a quick resolution.”
Carlsberg
Carlsberg, Ukraine’s second-largest brewer with a 31% market share, has stopped operations at two Ukrainian breweries in Kiev and the southern city of Zaporizhzhya.
A spokesperson told Reuters he has taken “various initiatives in Ukraine aimed at looking after the safety of our employees in the country”, including telling them to stay at home.
Carlsberg also has a third brewery in Ukraine, in the western city of Lviv.
Coke
Coca-Cola HBC, the company’s bottler, closed its plant in Ukraine and asked employees in the country to stay home.
“We will keep this under review for the next few days,” the company spokesperson told Reuters.
Mondelez International Inc. will close its factories in Ukraine if the country’s tensions with Russia escalate and become “very dangerous,” CEO Dirk Van de Put told Reuters on Wednesday.
“Making sure these people are safe…that’s the number one concern,” said Van de Put.
“We have great business in both countries. If that means we have to close factories because it’s too dangerous, we’ll do it.”
In Russia and Ukraine, countries that Mondelez considers emerging markets in Europe, the company makes local brands such as Jubilee cookies and Korona chocolate.
It also sells cookies including Oreo cookies, chocolates like Milka, chewing gum and candies from the region.
— Reuters contributed to this report.
Source: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
