NASHVILLE, Tenn. (WTVF) — Bridgestone announced this week that the company is taking a step back from Russia by suspending manufacturing activities in the country.
"The decision will take effect Friday, March 18 after the necessary preparations. The company has also decided to freeze any new investments and suspend all exports to Russia with immediate effect," the company said in a statement.
Bridgestone said the decision comes after assessing the impact of the war in Ukraine and its impact on innocent people. The company is set to financially support more than 1,000 employees at a production plant in Russia.
"We condemn any form of violence and hope that peace can quickly be reestablished. Our primary concern in this crisis is the safety of our employees and their families," Bridgestone said.
It joins a number of other companies shutting down operations in Russia including Jack Daniels' parent company Brown-Forman, McDonald's, Coca-Cola, PepsiCo, Burger King and more.
Read the full statement from Bridgestone below:
"Bridgestone has been carefully assessing the impact of the war in Ukraine and its impact on many innocent people. As a result, we are suspending our manufacturing activities in Russia until further notice. The decision will take effect Friday, March 18 after the necessary preparations. The company has also decided to freeze any new investments and suspend all exports to Russia with immediate effect.
We condemn any form of violence and hope that peace can quickly be re-established. Our primary concern in this crisis is the safety of our employees and their families. We continue to care for our more than 1,000 employees in our passenger tire production plant in Ulyanovsk, Russia and our sales offices. Therefore, we will support our employees financially at this time.
Bridgestone’s global and regional management will continue to closely monitor the situation. We expect our manufacturing and supply chains outside of Russia to remain stable in the coming weeks, and we will be prepared to flexibly adapt plans if necessary.
Bridgestone has donated more than €3.5 million Euro ($3.8 million USD) globally to the Ukraine humanitarian crisis, including a $250,000 USD donation made by Bridgestone Americas to the International Committee of the Red Cross. In addition, many of our employees have participated in spontaneous volunteer activities to support the refugees from Ukraine."
