Swiss Clariant suspends business with Russia, equivalent to 2% of total sales

MADRID (ICIS)–Clariant has suspended all business with Russia with immediate effect after the country’s “intolerable acts of violence” in Ukraine, the Switzerland-headquartered chemicals producer said at the weekend.

Clariant operates a sales office and a laboratory in Russia which contributes “approximately” 2% of total sales, said the company.

Clariant’s total sales in 2020 amounted to Swiss francs (Swfr) 3.86bn or around $4.2bn, which means its sales to Russia translate to around Swfr77m.

The company delayed the publication of its 2021 financial results after disclosing that it had opened an internal investigation into its accounting.

“We strongly oppose Russia’s war against the Ukraine and support the vote of the UN General Assembly that the Russian government must immediately stop the aggression, withdraw its troops, and abide by the rules of the UN Charter,” said Clariant’s CEO, Conrad Keijzer.

“Our thoughts are with our 146 employees and their families in Ukraine and we are doing everything in our power to support them. We join them in hoping that this brutal violence will end soon.”

Clariant said its Foundation had donated to the UN’s agency for aid to children UNICEF, although it did not disclose the amount.

(Swfr1 = $1.08)