Nestle to produce only essential food in Russia

MOSCOW. March 24 (Interfax) - Switzerland's Nestle, one of the world's leaders in food and beverage production, will produce and sell only essential food, such as infant food or medical nutrition, in Russia.

Due to the situation surrounding Ukraine, Nestle's activities in Russia "will focus on providing essential food, such as infant food and medical/hospital nutrition - not on making a profit," the company said in a statement.

Nestle is suspending the production of its renowned brands such as KitKat and Nesquik, among others.

The company previously said that it had stopped all advertising, and suspended all capital investment Russia, while Nestle's Russian factories continue to operate as usual.

Nestle said later that the company had already halted non-essential imports and exports into and out of Russia, except for essential products such as infant food, baby porridge, specialized nutrition and therapeutic pet food.

Nestle owns seven production facilities in Russia. The company has invested $2.3 billion in production over the years of operation in Russia.