Packaging and paper group Mondi, which has a primary listing in London, says it continues to monitor the situation in Russia where it earns 12% of revenue.
The group, which makes industrial packaging, office and craft paper, has 100 sites in 30 countries, with its primary operations based in Russia, SA, Europe and North America.
It has suspended production of its paper bag plant in Lviv, a city in western Ukraine. The factory employs 100 people.
Its operations in Russia, which serve the Russian domestic market, are still operational.
It says it has a high margin, cost-competitive, integrated pulp, packaging paper and uncoated fine paper mill located in Syktyvkar in the Komi Republic of Russia.
It is expected to update the market further when it releases its full-year results on Thursday.
Mondi’s share price dropped 8.34% on Monday and was at R332,73 in midafternoon trade.
In 2020, Mondi reported revenues of €6.66bn (R136.6bn).
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