Understand the impact of the Ukraine conflict from a cross-sector perspective with the GlobalData Executive Briefing: Ukraine Conflict

Multinational packaging firm Amcor has revealed plans to scale down its operations in Russia amid the country’s invasion of Ukraine.

In response to the conflict, the company will reduce its activities in Russia and focus its manufacturing operations on supporting only its existing multinational customers.

The company will also suspend new projects and investments in Russia and stop exports from the country ‘as early as possible’.

At the same time, Amcor will continue to explore all strategic options for the business while assessing the developing situation.

The company has had a presence in Russia for more than 20 years and currently operates three factories in the country, which generate 2% to 3% of Amcor’s total sales.

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Amcor CEO Ron Delia said: “As the war and humanitarian crisis from Russia’s invasion of Ukraine continue, it is important that we remain connected and well informed as a team.

“We are witnessing a tragic situation and our hearts go out to the people whose lives have been so terribly affected. We join the urgent call for a peaceful resolution to the conflict.”

Amcor is also committing at least $1m to provide direct support to its team in Kharkiv and their families.

In addition, the company has partnered with the International Red Cross to deliver general humanitarian aid.

Earlier this month, multinational paper and packaging company Mondi announced that its Board is considering legal separation as an option for the group’s interests in Russia amid the conflict.

The company has already suspended operations at its facility in Lviv, Ukraine.

Around 100 people are employed at the Lviv facility, which primarily manufactures paper bags.

French glass container manufacturer Verallia has also suspended production at its facility in Zorya, Ukraine, due to the invasion.

Located in Ukraine’s western region, the site supplies half of its output to domestic customers, while the rest is distributed across Europe.