Henkel AG, a German chemicals company, will cease its operations in Russia, joining a long list of corporations that have left the nation due to the conflict in Ukraine.
Good decision! We expect other companies to act like you. #PullOutOfRussia #Anonymous #OpRussia https://t.co/us83ORwdFZ
— Anonymous TV 🇺🇦 (@YourAnonTV) April 19, 2022
In Russia, Henkel produces adhesives, detergents, cosmetics, as well as personal care products in 11 sites. The company stated on April 4 that it was still operational in the country. It halted all investments and halted all advertising and sponsorship activities in Russia in early March, in response to Moscow’s military mission in Ukraine.
Henkel, based in Dusseldorf, mentioned in a statement Tuesday that it will work more closely with its partners in Russia to facilitate a seamless process. The decision’s financial impact cannot be calculated at this time, according to the organization.
The 2,500 Henkel employees in Russia will stay on the job as well as they will get paid for their job. The announcement comes just hours after carmaker Stellantis NV revealed plans to shut down a van manufacturing near Moscow.
Carsten Knobel, CEO of Henkel said that Henkel opposes Russia’s attack on Ukraine and the devastation it has perpetrated against civilians. He also said that the company’s primary objective is to assist their Ukrainian colleagues in any way possible. They are assisting their staff and the citizens of Ukraine and adjacent countries in a variety of ways, by sending them cash, food, and other supplies. Many Henkel employees are also assisting at the border by giving desperately needed items or providing shelter to Ukrainians.
BMW AG, Volkswagen AG, & Ford Motor Company Also Halted Their Operations In Russia
The war has prompted a mass exodus of foreign firms from the Russian market. Local production has also been impeded by the growing list of sanctions, which makes it impossible to get crucial components. BMW AG, Volkswagen AG, as well as Ford Motor Company have all halted production in the region.
