In a statement, the global building materials giant said: "The Holcim Board of Directors has decided to initiate the process to exit the Russian market in line with the company's values to operate in the most responsible manner. This decision to divest the Russian business follows Holcim's previous announcement to suspend all capital investments in the market.
"The Board expresses its heartfelt concern about the tragic human suffering unfolding across the region and is fully committed to supporting affected people, families and communities."
The Holcim Board has thanked all Holcim colleagues who are "mobilising around the world alongside local NGOs to provide shelter, essential goods and medical supplies, as well as volunteering their time."
Last month, Holcim posted record annual trading results and said it had delivered its 2022 Strategy a year early. The Group's 2021 net sales of CHF 26,834mn (€25.956mn) were up 11.3% on a like-for-like basis on CHF 23,142mn (€22.385mn) in 2020. Holcim's recurring EBIT (earnings before interest & taxes) reached CHF 4,612mn (€4.461mn) in 2021, up 25.7% on a like-for-like basis on CHF 3,676mn (€3,555mn) the previous year.
