Australian packaging supplier Amcor limits operations in Russia

MELBOURNE. March 22 (Interfax) - Amcor Ltd., an Australian packaging manufacturer, plans to scale down its operations in Russia due to the events in Ukraine, the company said in a press release.

Amcor has "operated for more than 20 years in Russia, where we continue to ensure compliance with local and international laws," company CEO Ron Delia said. The company has three factories in the country that generate 2% to 3% of total Amcor sales.

"After careful consideration of the current circumstances, we will scale down our activities" in Russia by "focusing our manufacturing on supporting only existing multinational customers," suspending new projects and investments and discontinuing exports from the country as soon as possible, Delia said.

"We will also continue to explore all strategic options for the business while assessing the rapidly evolving situation. We will take additional actions as needed, always guided by our values and responsibilities to our stakeholders," Delia said.

Amcor is a major supplier of packaging for food, beverage, pharmaceutical, medical, home and personal care, and other products. The company has about 46,000 employees in more than 40 countries and had sales of $13 billion in 2021.

In Russia, Amcor's operations include the Amcor Rentsch Novgorod cigarette packaging factory, which opened in 2000.