Home / Ukraine / Finnish Dairy Company Valio to Close Plant Due to Russian Food Embargo

Finnish Dairy Company Valio to Close Plant Due to Russian Food Embargo

Finnish dairy association Valio is to tighten a plant in Finland’s southern city of Tampere due to a impact of Russia’s food embargo, a RBC news website reported Wednesday. Fifty people are to remove their jobs as a outcome of a closure.

“The divert marketplace is still going by intensely formidable times with Russia stability a sanctions opposite a EU. Due to a tellurian oversupply of divert and a rebate of prices for dairy products, direct stays really low,” Valio pronounced in an online statement.

Valio’s income from sales in Finland fell by 11.7 percent final year, with income from exports descending by 9 percent in 2014 and 12.3 percent in 2015, news opening RBC reported.

Russia introduced a anathema on a far-reaching operation of food imports from a West in Aug 2014 as a response to anti-Russian EU and US sanctions imposed after a country’s involvement in Ukraine.

Prime Minister Dmitry Medvedev voiced his willingness to extend a anathema until a finish of 2017 after G7 leaders concluded to extend anti-Russian sanctions final week.

Article source: http://www.themoscowtimes.com/article/571162.html

InterNations.org