(Alliance News) - Smurfit Kappa Group PLC on Friday said it will exit Russia, following the Kremlin's invasion of Ukraine.
The Dublin-based packaging company said the exit follows its decision to suspend support for its Russian operations, including imports, exports and funding.
"This exit will be effected in an orderly manner, during which we will continue to pay our employees and fulfil our legal obligations," Smurfit said.
Its Russian business represents 1% of forecasted sales.
Shares in the company were 0.4% lower at 3,398.00 pence each in London on Friday morning.
By Eric Cunha; ericcunha@alliancenews.com
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Smurfit Kappa (SKG)