WEINHEIM, Germany—The Freudenberg Group is ceasing all trading activities in and out of Russia and Belarus as a result of the invasion of Ukraine, according to the German group's CEO Mohsen Sohi.
"The brutal images of war in Ukraine leave us stunned. As Freudenberg, we are committed to an open, free Europe and a global peaceful coexistence," he said in a post on LinkedIn earlier this month.
In his post, he said the company stands with the people of Ukraine and fully supports the sanctions that are imposed Russia.
"We are ceasing all trading activities in and out of Russia and Belarus," he said, adding "Our thoughts are with the people of Ukraine suffering through this war."
See our full and ongoing coverage of impacts from the war in Ukraine.
In addition, the German manufacturer has donated $3.25 million (€3 million) as immediate humanitarian aid to Ukrainians suffering through this war.
"We are hoping for an immediate cease fire and a diplomatic and peaceful solution," Sohi concluded.
Freudenberg declined to comment further on the subject when contacted by European Rubber Journal but said its business in Russia is "relatively small."
"We continuously analyze the degree of impact on our business activities," said a company spokesman in a written statement to ERJ March 15, adding it's "still too early" to assess what effects the imposed sanctions will have on Freudenberg.
Freudenberg is ranked No. 1, according to Rubber News data, out of the top 50 non-tire rubber product producers.