The high-performance insulation and building envelope solutions provider has divested its operations to local management
Kingspan has exited the Russian market and divested its operations to local management.
"Whilst our decision to exit was made in early March it has taken several weeks to ensure that it could be completed in an orderly fashion, with the safety and welfare of our staff as a key priority," the company stated.
Russia accounts for less than 1% of Kingspan's global operations and following this action, Kingspan products will no longer be available for sale in Russia.
The company is a major contributor to the cleanroom industry worldwide and supplies planels for many controlled environments.
Kingspan says it is deeply saddened by the growing humanitarian crisis as a result of Russia's unjustified attack on Ukraine and its people. "We have made a $750,000 donation to UNICEF for the setup of 5 Blue Dot Centres to assist refugees on the Ukrainian border, and are also providing additional local supports," the company added.