Tetra Pak Corporation announced the complete withdrawal of its business from Russia.
The Swedish-Swiss corporation Tetra Pak, one of the world's largest manufacturers of food packaging materials, has announced the complete withdrawal of its business from Russia.
The relevant notice is posted on the company's website.
It states that the decision is due to the cumulative effect of restrictions on exports to Russia, which leads to instability in the supply chain. As a result, the company “has no choice but to leave the country.”
“This follows the company's tentative decision to suspend all new investments and projects in Russia, limiting its activities to supporting essential products for customers” , it said.
Tetra Pak has agreed to hand over its Russian business to local management. This will minimize the impact on employees and allow “maintenance of consumer access to essential products”.
After the transfer of ownership, the new company will operate as an independent legal entity under a new name and will not be affiliated with Tetra Pak. This means the end of 62 years of Tetra Pak's presence in Russia.
Recall that Samsung continues to work in Russia according to “gray schemes”.
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