Home Business News Valio ‘are ending business operation in Russia immediately’ as they ‘condemn the attack on Ukraine’

Valio ‘are ending business operation in Russia immediately’ as they ‘condemn the attack on Ukraine’

by LLB staff reporter
7th Mar 22 2:27 pm

Valio has one processed cheese factory near Moscow, contract manufacturing partners and sales offices in St. Petersburg and in Moscow.

Valio employs approximately 400 people in Russia. Annual sales of Valio in Russia have been approximately 85 million euros. Valio’s subsidiary in Russia is 100% Finnish-owned by Valio.

Read more on Russia-Ukraine war:

Coca Cola evacuates employees in Ukraine and temporarily halts production at their Kyiv factory

Ikea ‘temporarily pauses operations in Russia’ due to huge human impact caused by the war

Putin’s crippling economy delivered yet another blow as Mastercard, Visa and PayPal cut services in Russia

The exit process will start immediately. The decision to end the business and ramp down operation involves many details that we have been working on, and we now could communicate about it.

Last week Valio stopped all exports from Finland to Russia and Belarus. In addition, imports of ingredients and packaging materials from Russia to Finland were stopped.

“We strictly condemn Russia’s attack on independent Ukraine. Ethically, Valio cannot continue operations in Russia; therefore, we are ending business operation in Russia,” says Valio’s CEO Annikka Hurme.

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