News Formal

Building materials group CRH to exit Russian market

  • 📰 RTEbusiness
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 61%

Business News News

Irish building materials group, CRH, is to end its operations in Russia, as Vladimir Putin's assault on Ukraine continues to escalate.

The company, which is one of Ireland’s largest firms, confirmed the move in a short statement this evening first reported by the Irish Times.

"CRH management, in conjunction with its Board of Directors, took the decision over the weekend to cease operations in Russia and withdraw from the market," it said.According to its website, CRH first entered the Russian market in 1998.Rudus operates a concrete panel production plant servicing the city of St. Petersburg.

The company also operates a number of ready mixed concrete plants through LujaBetomix, its joint venture with another large Finnish concrete producer, LujaBetoni.It comes as huge numbers of foreign companies with operations in Russia pull back or withdraw completely from Russia, as the war escalates and sanctions begin to have an impact.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 16. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

CRH decides to quit Russian marketBuilding materials giant to exit joint venture in St Petersburg owned by CRH Finnish unit
Source: IrishTimesBiz - 🏆 6. / 77 Read more »