Nutreco to stop trade with Russia after selling assets
Feed producer Nutreco and its aquafeed subsidiary Skretting have confirmed that they are to stop doing business with Russia following the invasion of Ukraine.
In March, SHV, the Dutch conglomerate that owns Nutreco, said it would not undertake any new investments, projects or exports to Russia because of the invasion, although it did not stop existing business.
That situation has now changed after Nutreco reached a deal to sell its Russian assets to employees and fulfilling contracts.
Continuity for employees
“Nutreco has sold its Russian livestock feed operation to its local management. Once regulatory procedures are completed and the transaction closed, Nutreco will no longer have any business interests in Russia,” the company said in a statement.
“The management buy-out is the best way to offer continuity for employees and ensure stability in the local feed-to-food chain.
“Nutreco will discontinue the export of aquaculture feed and feed additives into Russia after having fulfilled existing obligations.
210 staff
“The buy-out concerns Nutreco’s livestock feed facility in Liski, and sales offices in Moscow, Voronezh, St Petersburg and Nizhny Novgorod. The business currently employs a total of 210 staff.”
The move by Nutreco / Skretting follows that of BioMar, which stopped all trade activities with Russia in March. Another feed producer, Cargill, is still supplying its Russian customers.
