PepsiCo stops producing flagship brands in Russia

MOSCOW. Sept 20 (Interfax) - U.S.-based PepsiCo Inc. has stopped producing Pepsi-Cola and its other global flagship brands in Russia, Reuters said, citing the company.

Production of Pepsi, 7UP, and Mountain Dew beverages in Russia has stopped. "All concentrates in Russia have been exhausted and production has ceased," a PepsiCo representative said, according to Reuters.

As previously reported, PepsiCo also announced suspending its capex program, as well as advertising and promotional activities in the Russian market. PepsiCo estimated losses from asset impairment at $1.17 billion in the company's financial statement for the second quarter.

PepsiCo's Russian business accounted for 4% of the company's global revenue and asset value.