Governments are not alone, rubber industry companies worldwide cut business ties with Russia. In some cases, the moves impact direct operations in Russia, while others will affect supply chains.
What rubber industry companies are stopping business in Russia?
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But the reasoning behind the moves are greater than the cost of business many say.
"Acts of war like this are the absolute antithesis of our own values," trade fair organizer Koelnmesse GmbH said in statement detailing its decision to cut cooperation with Russian business. "As a trade fair organizer, we stand wholeheartedly for peaceful coexistence, free trade and the unrestricted exchange of goods around the world."
• Dow Inc., a giant in the elastomers, resins and materials spaces, is curbing business in Russia.
• Nokian Tyres P.L.C. was the first to react, diverting tire production and working to reshape its supply chain as Russia's attack on Ukraine worsened. The tire maker, however, announced March 22 that it will continue operations at its Vsevolozhsk, Russia, site to maintain control of its assets.
• Continental A.G. has stopped production and supply chain operations in Russia. This applies to ContiTech as well as the tire operations.
• Michelin is idling tire plants in Europe as the crisis in Ukraine continues.
• Chemical company, Chemours is stopping business in Russia.
• Nynas A.B., a manufacturer of specialty naphthenic oils and bitumen products, is cutting feedstocks of Russian origin.
• Bridgestone is suspending production of tires in Russia and halting exports to the country.
• Freudenberg has ceased all trade activities with Russia and Belarus.
• OSV Technology L.L.C. halted operations at its Oleshky, Ukraine, site following Russia's invasion and occupation of the city on Feb. 24. The company announced March 17 that it would restart some of its operations in Poland.
Has your company taken action? Want to see it listed here? Send news releases and information regarding operations in Russia to Online Content Editor Sam Cottrill or Managing Editor Erin Pustay Beaven.
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