According to LujaBetomix’s Russian website, the ultimately CRH-backed joint venture was formed in 2014 specifically to target the Russian market. Rudus had separately been selling into the St Petersburg market from across the border in Finland since the late 1990s.
CRH now insists that it will end all commercial activities in the Russian market, which suggests that its Rudus unit and the joint venture will cease selling any cement products in St Petersburg. CRH, which announces its annual results on Thursday, is expected to face questioning on its exit from the Russian market.
Last week ahead of the invasion, CRH had prepared contingency plans for its Ukrainian operation, which is predominantly located in the west of the country. It said its Ukrainian operation, which employs about 800, is responsible for less than 1 per cent of the group’s near €27 billion annual sales. It is understood that the Russian operation is smaller than the Ukrainian operation.Topics: