HeidelbergCement freezes investments in Russian operations

2022-03-10

Mar. 10, 2022 - Germany-based HeidelbergCement has suspended ‘all further investments’ in its operations in Russia following the country’s invasion of Ukraine. According to its website, the group supplies the Russian cement market from three local cement plants and two terminals. CEO Dominik von Achten said that a ‘large part’ of HeidelbergCement’s Russian production capacity is presently in winter shutdown.

Von Achten acknowledged the company’s responsibility towards its employees in the country, who he said have no part in the apparent Russian aggression and on-going war crimes in Ukraine. He said “We are in constant exchange with our local workforce to protect them and are closely monitoring the situation on a day-by-day basis.”