Solvay has donated €1 million to support Ukraine and has decided to suspend its activities and new investments in Russia.
Extremely concerned about the humanitarian crisis that is unfolding following the hostilities in Ukraine, Solvay has decided to suspend its operations and new investments in Russia. Additionally, Solvay will suspend dividend payments from Rusvinyl, an independent 50:50 joint venture in Russia.
Through the Solvay Solidarity Fund, the Belgian chemical company donated 1 million euros to the Belgian and International Red Cross in support of relief efforts for affected civilians in Ukraine. The funds will help provide access to clean water, medicine and medical equipment, repair vital infrastructure and improve the living conditions of families. Additionally, private employee donations will also help address growing humanitarian needs.
“Solvay is deeply saddened by the loss of life and suffering in Ukraine”, said Ilham Kadri, CEO of Solvay. “Our top priority has been the safety of our colleagues in Ukraine. We are taking action to support the ongoing humanitarian efforts to ease the suffering of those impacted by this crisis.”
“We stand behind all our employees, including our Ukrainian and Russian colleagues in such an unprecedented crisis, and will provide all the necessary support, including salaries and benefits. We thank them all for their continued dedication and resilience”, continued Dr. Ilham Kadri.