Building materials group CRH to exit Russian market

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.

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CRH decides to quit Russian marketBuilding materials giant to exit joint venture in St Petersburg owned by CRH Finnish unit
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