Nestle S.A.: Update on Russia and Ukraine

Vevey / CH. (nsa) As the war rages in Ukraine, activities of Swiss Nestle S.A. will focus on providing essential food, such as infant food and medical/hospital nutrition – not on making a profit, the company said in a short statement as follows: «This approach is in line with our purpose and values. It upholds the principle of ensuring the basic right to food.

«Going forward, we are suspending renowned Nestlé brands such as KitKat and Nesquik, among others. We have already halted non-essential imports and exports into and out of Russia, stopped all advertising, and suspended all capital investment in the country. Of course, we are fully complying with all international sanctions on Russia.

«While we do not expect to make a profit in the country or pay any related taxes for the foreseeable future in Russia, any profit will be donated to humanitarian relief organizations.

«This is in addition to the hundreds of tons of food supplies and significant financial assistance that we have already contributed to support the people in Ukraine and our 5,800 employees there.»