Mondelez International is still doing business with Russia, despite growing pressure and calls for boycotts among its consumers. The food and beverage conglomerate owns a wide variety of popular brands including Oreo, Ritz, Cadbury, and Trident. According to Sonnenfeld, Mondelez generates 3.5% of its total revenue from Russia, an estimated total of $1 billion.
A Mondelez spokesperson directed Insider to a statement made by CEO Dirk Van de Put on March 9 that said the company is "scaling back all non-essential activities" in Russia, "while helping maintain continuity of the food supply during the challenging times ahead."
"We will focus our operation on basic offerings, discontinue all new capital investments, and suspend our advertising media spending," de Put wrote.
The Italian fashion company is still operating Russia, where it makes an estimated 1% of its revenue, or $10 million. A representative for Salvatore Ferragamo told Insider the company "does not operate directly in Russia" and that its "activities there are managed by a local distributor."
While Mars announced on March 1 that it was suspending advertising in Russia and Belarus, the company is continuing to produce goods at its factories in Russia, where Sonnenfield estimates the company has invested more than $2 billion.
Mars makes a significant amount of its pet food in Russia, where it operates five facilities that produce its Whiskas, KitKat, Pedigree, Chappi, and Sheba brands. In August 2021, the company expanded production in Russia, after first ramping up investments in pet food production in the region in 2018.
In response to a request to comment, a Mars representative directed Insider to a statement from CEO Grant F. Reid on March 1 announcing that in addition to halting advertising in the region, the company would also donation $2 million to support humanitarian efforts in Ukraine.
"We join the world in supporting the innocent victims of this war and calling for a peaceful resolution immediately," Reid said in the statement.
Kimberly-Clark is continuing business in Russia, where it conducts 3% of its revenue, or an estimated $600 million. The consumer products conglomerate — which owns several personal care brands like Kleenex, Kotex, and Cottenelle — opened its first manufacturing plant in Russia in 2010 and expanded its business in the region in 2019.
A representative for Kimberly-Clark did not immediately respond to Insider's request to comment.
Cosmetics company Coty remains in Russia, even as competitors like Estée Lauder pull out of the country. Coty generates 3% of its revenue from Russia, an estimated $150 million.
A representative for Coty did not immediately respond to Insider's request to comment.
Hilton is continuing business in Russia, where its 29 locations remain open. A representative for Hilton did not immediately respond to Insider's request to comment.
Hyatt is also still operating in Russia, where its six locations remain open. A representative for Hyatt did not immediately respond to Insider's request to comment.
Intercontinental Hotels Group is continuing business in Russia, where its 26 locations remain open.
According to an IHG spokesperson, while the company is suspending future investments, development activity, and new hotel openings in the country, the company holds "long-term management or franchise agreements with independent third-party companies that own the hotels in Russia."
"IHG has a commitment to look after the people and communities where we have a presence around the world," a spokesperson said in a statement to Insider, adding that the company is also closing its corporate office in Moscow, but will "continue to support our colleagues."
Marriott's 10 hotel locations in Russia remain open. A representative for Marriott did not immediately respond to Insider's request to comment.
The French hospitality group Accor is still operating its 55 hotel locations in Russia. A representative for Accor did not immediately respond to Insider's request to comment.
Citigroup is continuing business in Russia, where it risks losing an estimated $4 billion due to exposure in the country. The company disclosed it had a total of $9.8 billion in exposures in Russia at the end of 2021, which put it at a higher risk than many other Western banks, The Financial Times reported.
In a statement shared to the company's website on March 9, Edward Skyler — Citigroup's executive vice president of global public affairs — wrote that the company is working toward exiting its consumer banking business in Russia.
"As we work toward that exit, we are operating that business on a more limited basis given current circumstances and obligations," Skyler wrote. "We are also supporting our corporate clients in Russia, including many American and European multi-national corporations who we are helping as they suspend or unwind their business."
Bridgestone Tire, the largest manufacturer of tires in the world, has continued business in Russia, where it operates several facilities. The company first started tire production in the country in 2016.
A representative for Bridgestone did not immediately respond to Insider's request to comment.
Global tire manufacturer Pirelli has also remained in Russia, where it produces an estimated 10% of its tires, according to Sonnenfeld.
A representative for Pirelli did not immediately respond to Insider's request to comment.
Caterpillar is continuing business in the country as its shares climb. The company's stock increased by 6.5% on March 8, as demand for localized mining, energy, and agricultural needs rises globally in response to the impact of sanctions on Russia.
"The Russia/Ukraine crisis has fundamentally altered global commodity markets and is likely to drive a decade of reinvestment, similar to what the world experienced in the 1970s," Jefferies analyst Steven Volkmann wrote in a note, as reported by Bloomberg.
The company has a self-proclaimed "long history in Russia," which began over a century ago when Caterpillar began exhibiting tractors in trade shows in the region. It opened its first office in Russia in 1973 and today has 180 locations in the larger Eurasia region, according to its website.
A representative for Caterpillar did not immediately respond to Insider's request to comment.
"The Russia/Ukraine crisis has fundamentally altered global commodity markets and is likely to drive a decade of reinvestment, similar to what the world experienced in the 1970s," Jefferies analyst Steven Volkmann wrote in a note.
While John Deere recently suspended shipments of machines to Russia and Belarus, it continues to operate its manufacturing and parts distribution facility in Domodedovo, a city south of Moscow.
According to a John Deere spokesperson, the company has been "working directly with a number of organizations, including multiple UN agencies, to mobilize resources to support Ukrainians impacted by the crisis."
"John Deere is deeply saddened by the significant escalation of events in Ukraine," the spokesperson told Insider. "The safety, welfare, and well-being of our employees in the region remain our top priority, and we continue to support and maintain close communication with our affected teams, providing necessary resources when possible."
Cargill — an international producer of food, agricultural, and industrial products — has maintained operations in Russia, where it employs 2,500 employees. According to its website, Cargill is "one of the biggest foreign investors in agro-processing segment of Russian economy with the amount overrunning $1100 million USD."
A representative for Cargill did not immediately respond to Insider's request to comment.
Cummins — which designs and manufactures engines, filtration, and power generation products — has continued business with Russia, where it has 700 employees.
The company announced on March 8 that it has halted some of its operations in the country, and has denied reports that it was providing engines Russian military vehicles.
"We have halted some of our operations, but we are continuing to conduct business with Russia that supports the health and safety of citizens on the ground where Cummins equipment powers parts of the agricultural sector, hospitals and many other elements of daily life and not for the defense or military," Cummins spokesperson Jon Mills told The Republic. "Our intent is to limit the impact on citizens who are not participants in this invasion."
Greif, a global industrial packaging products and services companies, has continued business in Russia where it operates several facilities. The company most recently expanded its operations in the region in 2019 with its second intermediate bulk container production plant.
A Greif spokesperson told Insider that ts "first consideration is always the health and well-being of our people, regardless of nationality."
"While we condemn the actions taken by the Russian government, we still remain in full support of our 540 Russian colleagues, many of whom are long tenured, appalled and saddened by the events underway," the spokesperson said. "Their livelihood is important to us, and we continue to operate in Russia as a means of safeguarding their well-being."
The agribusiness and food production company Bunge is still operating in Russia, where Sonnenfeld reported the company generates 2.6% of its total revenue, or $1.5 billion. The company previously said that the conflict and sanctions could have an "adverse effect" on its grain business in the region, Reuters reported.
A representative for Bunge did not immediately respond to Insider's request to comment.
Mohawk Industries, which produces floor coverings for commercial and residential properties, is still operating in Russia, where it makes an estimated 4.3% of its revenue, or $400 million, according to Sonnenfield.
The company began producing laminate in Russia in 2011 "to maximize market share" and began sheet vinyl production at a new plant in the country in 2019, according to its website.
A representative for Mohawk did not immediately respond to Insider's request to comment.
Otis Worldwide, which manufactures elevators, escalators, and moving walkways, has yet to pull out of Russia, where it has several joint ventures and partnerships.
"We are monitoring developments carefully and will continue to adjust our operations and procedures in compliance with applicable laws and in order to continue to best serve all of our stakeholders in this challenging context," an Otis spokesperson told Insider.
Timken, a global manufacturer of bearings and transmission products, is still operating in Russia, where it holds joint ventures with the United Wagon Company of Russia and Russia's European Bearing Corp.
A representative for Timken did not immediately respond to Insider's request to comment.
Arconic, an industrial company that specializes in lightweight metal engineering and manufacturing, is still operating in Russia, where it generates 9.4% of its revenue, an estimated $535 million, according to Sonnenfeld.
A representative for Arconic did not immediately respond to Insider's request to comment.
Citrix, a cloud computing company, has retained business in Russia, where it holds several Russian offices, according to Sonnenfield.
A representative for Citrix did not immediately respond to Insider's request to comment.
Whirlpool has retained operations in Russia, where it has upwards of 250 employees, according to Crunchbase.
A spokesperson for Whirlpool told Insider that while the company for safety purposes has stopped business in Ukraine — where it has a sales organization with 40 employees and 100 contractors — it is currently "limiting production" in Russia.
"In Russia, we are limiting production to provide essential goods for families who need our appliances to clean, cook and provide proper food and medicine storage in their homes," the spokesperson said.
Abbott Labs has continued business with the country, where it generates nearly 2% of its sales, according to Med Tech Dive.
A spokesperson for Abbott directed Insider to a statement made on March 4 announcing that the company has donated $2 million to humanitarian organizations that support Ukraine including International Medical Corps, Americares, and Project HOPE.
The biopharmaceutial company AbbVie has also continued business in Russia, according to Sonnenfield.
A representative for AbbVie did not immediately respond to Insider's request to comment.
AmerisourceBergen, a US-based wholesale drug company, told The Philadelphia Inquirer in a statement on Tuesday that it would continue its operations in Russia to support its "purpose of creating healthier futures for people worldwide."
A spokesperson for AmerisourceBergen directed Insider to a March 9 statement from Robert Mauch — executive vice president and group president — that the company plans to continue support of its existing clinical trials and distribution of oncology therapies while "ceasing any new business initiatives in Russia."
"There are also larger social ramifications to consider," Mauch said in the statement. "Making the decision to effectively end the clinical trials our teams are supporting is a strike against medical innovations that may help patients across the globe."
https://news.google.com/__i/rss/rd/articles/CBMidmh0dHBzOi8vd3d3LmJ1c2luZXNzaW5zaWRlci5jb20vcnVzc2lhLXVrcmFpbmUtaW52YXN0aW9uLXdhci1zYW5jdGlvbnMtY29ycG9yYXRlLXJlc3BvbnNlLWNvbXBhbmllcy1ub3QtbGVhdmluZy0yMDIyLTPSAQA?oc=5
2022-03-10 09:45:19Z
CAIiEEcaO_FNJNE32afaXCNfiRoqLQgEKiUIACIbd3d3LmJ1c2luZXNzaW5zaWRlci5jb20vc2FpKgQICjAMMJD-CQ
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