Norwegian food giant Orkla discontinues its operations in Russia

Orkla has decided to discontinue its Hamé Foods ZAO business in Russia, the company stated in a press release.

The company has 367 employees in Russia and, in 2021, it had a turnover of NOK 184 million. The company noted that the production consisted of long-lasting foods for the Russian market.

“After a thorough decision-making process, we have come to the conclusion that it is no longer desirable to continue (working) in Russia, and we are therefore closing down the business. We will seek to take care of the employees in the best possible way in a difficult time,” CEO of Orkla Foods International Johan Wilhelmsson said.

Orkla has also stopped its exports and imports related to Russia and Belarus. Orkla’s exports to Russia and Belarus amounted to NOK 105 million in 2021. Imports from these two countries amounted to NOK 23 million.

The company thus joins a longer number of Norwegian companies who have taken action in connection with their business operations in Russia after the invasion of Ukraine. Equinor, among others, has previously stopped trading Russian oil, while Norsk Hydro will not enter into new contracts with Russian companies until further notice.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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