LatinNews Daily - 15 March 2022

In brief: Mexico’s Bimbo halts operations in Russia

* Mexico’s largest bakery company, Grupo Bimbo, has announced that it is suspending sales of its Bimbo brand products and new capital and marketing investments in Russia, due to “the current international situation and in line with the [company's] core values”, in reference to Russia’s invasion of Ukraine. The company says it will continue to monitor and assess the situation as it evolves. According to a company statement, in 2021, Russia represented less than 0.5% of Grupo Bimbo’s net sales. The company operates a bakery in Russia’s capital city Moscow, which employs 362 people. On 27 February, Bimbo had announced it was temporarily suspending operations at its plant in Dnipro city, Ukraine, citing safety concerns for staff.

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