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A-Brands

Germany's Henkel To Close Business In Russia

Henkel will close its business activities in Russia due to the country's invasion of Ukraine, the German consumer products maker said on Tuesday, adding it would keep paying its 2,500 employees in Russia until the process is finished.

The maker of Persil washing detergents and Pritt glue added that it was working with its teams in Russia to make the exit as smooth as possible but could not quantify the financial impact of the move at the moment.

"Henkel condemns the Russian war against Ukraine and the violence against innocent civilians. Our priority remains to do everything we can to support our colleagues in Ukraine," chief executive Carsten Knobel said in a statement.

'Extensive Support'

“We are providing extensive support to our employees and the people in Ukraine and neighbouring countries by offering financial donations as well as food and material donations. Many Henkel employees are also helping at the borders by distributing urgently needed goods or offering people from Ukraine a place to stay,” he added.

Earlier, Henkel said it would continue doing business in Russia and that the company's activities in the country were subject to restrictions. The company stopped all investments as well as advertising and sponsoring measures in the country in early March.

Last week, Beiersdorf stopped investments in marketing and promotion in Russia due to the Ukraine war but said it would keep its business in the country as its products serve essential consumer needs.

Read More: Mondelēz, Nestlé, Pepsi Face Pressure From European Employees Over Russia

News by Reuters, additional reporting by ESM. For more A-Brands news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.

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