Irish building firm CRH to withdraw from Russia
- Published
One of Ireland's largest companies, the building materials group CRH, says it is pulling out of Russia.
CRH is a multinational firm with annual turnover of about $28bn and its best-known Northern Ireland business is the building firm Farrans.
It is understood the firm's Russian operations represent a very small portion of its overall business.
It follows Russia's invasion of Ukraine, which has led to boycotts and sanctions.
A spokesman said: "CRH management, in conjunction with its board of directors, took the decision over the weekend to cease operations in Russia and withdraw from the market."
The firm's website indicates that it entered Russia in 1998 and supplied building materials market through an operating company, Rudus.
Rudus - which is headquartered in Finland - operates a concrete panel production plant servicing the city of St Petersburg.
CRH also operates a joint venture with a Finnish concrete company which has six ready-mixed concrete plants in St Petersburg.
CRH joins a host of other major firms who have said they will stop trading in Russia after its invasion of Ukraine.