Smurfit Kappa Group plc has decided to exit the Russian market. The Group has already suspended support for its Russian operations including any imports and exports and any short or long term funding. This exit will be effected in an orderly manner, during which the company will continue to pay employees and fulfil legal obligations. The Russian business represents less than 1% of forecasted sales.
“Smurfit Kappa stands in solidarity with the people of Ukraine and everyone impacted by the totally unjustified attack on Ukraine and its people,” the company said in a statement. “The Group is providing, and will continue to provide, substantial humanitarian support for the Ukrainian people. We are also assisting the families of SKG employees and contractors from Ukraine as well as providing products and services to support the relief effort together with financial assistance to a number of aid agencies. We have also partnered with the Red Cross to provide funding to support their vital work.”