• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
SUBSCRIBE
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home News

PepsiCo Decides To Close Production Of Few Of Its Products In Russia

Ujjwal Kumar by Ujjwal Kumar
September 20, 2022
in News
0
PepsiCo Decides To Close Production Of Few Of Its Products In Russia (Image Courtesy: commons.wikimedia.org)

PepsiCo Decides To Close Production Of Few Of Its Products In Russia (Image Courtesy: commons.wikimedia.org)

215
SHARES
3.6k
VIEWS
TwitterWhatsappLinkedin

 

You might also like

Infosys CFO Resignation: Impact, Succession, and Industry Implications Unveiled

M&G Takes a Dive into the Crypto Realm, Allocates $20M to Bitcoin Derivatives Exchange

Tether Takes Decisive Action: Freezes 41 Crypto Wallets Linked to Sanctions

PepsiCo Decides To Close Production Of Few Of Its Products In Russia (Image Courtesy: commons.wikimedia.org)
PepsiCo Decides To Close Production Of Few Of Its Products In Russia (Image Courtesy: commons.wikimedia.org)

America-based multinational food company PepsiCo has announced that it is going to close the production of some of its beverages including Pepsi, 7UP and Mountain Dew from the third largest consumer, Russia. The announcement also marks the end of the sixty-year association of the company with Russia.

PepsiCo Decision

PepsiCo said in a statement in the second week of this month that the beverage stock has been exhausted in the country and production has been stopped. The announcement follows the company’s decision of March this year when it had decided to wrap up operations from the country.

“Pepsi-Cola entered the market at the height of the Cold War and helped create common ground between the United States and the Soviet Union,” the company wrote in its March statement.

PepsiCo’s decision to wind up its production from the country is mainly because Russia invaded Ukraine. Reportedly, PepsiCo was one of the few companies from the west, allowed to operate in the country. PepsiCo which has around 20, 000 employees in the country, contributed 4% of the total revenue generated by the company the previous year.

Russia Ukraine War

Russian forces invaded Ukraine in February this year. The ongoing war which has claimed a thousand lives and caused large-scale destruction has entered into the seventh month. Many western companies have announced their withdrawal from Russia as a mark of protest.

As per reports close to 700 US companies have closed their operations in the country. However, the sanctions have not deterred Russia from stopping war.

PepsiCo Beverages Continued To Be Sold Despite Announcement

Having said that, despite the PepsiCo announcement of winding up operations from Russia in March this year, its products continued to be sold at supermarkets, gyms and retail. Reuters, which checked on the withdrawal of PepsiCo beverages products in Russia found that the company beverages were available till the third week of the previous month, in the country. The delay in the production withdrawal of beverages implies that PepsiCo products are available for a little longer.

Earlier, other beverage products beer too continued selling despite the announcement of withdrawal by the manufacturers in the country. Coca-Cola too continued to sell its beverages after its withdrawal announcement in March.

PepsiCo has clarified in a statement that, it would continue selling other necessary products which include dairy and products related to baby care.

 

 

 

Tags: #Sanctions7UpPepsicoRussiarussia ukraine warukraine
Tweet54SendShare15
Ujjwal Kumar

Ujjwal Kumar

Recommended For You

Infosys CFO Resignation: Impact, Succession, and Industry Implications Unveiled

by Rounak Majumdar
December 12, 2023
0
Infosys CFO Resignation: Impact, Succession, and Industry Implications Unveiled

In an unexpected turn of events, Nilanjan Roy, the Chief Financial Officer (CFO) of Infosys, a renowned global information technology firm headquartered in India, has resigned. Roy, who...

Read more

M&G Takes a Dive into the Crypto Realm, Allocates $20M to Bitcoin Derivatives Exchange

by Om Chaturvedi
December 11, 2023
0
M&G Takes a Dive into the Crypto Realm, Allocates $20M to Bitcoin Derivatives Exchange

In a strategic move reflecting the growing acceptance of cryptocurrencies in traditional finance, UK-based asset manager M&G has committed a substantial $20 million investment in a Bitcoin derivatives...

Read more

Tether Takes Decisive Action: Freezes 41 Crypto Wallets Linked to Sanctions

by Om Chaturvedi
December 11, 2023
0
Bitcoin’s Rollercoaster Ride: A Sudden Plunge Erases a Week’s Worth of Gains

In a strategic move to adhere to regulatory compliance, Tether has recently taken a bold step by freezing 41 cryptocurrency wallets associated with entities facing sanctions. This development...

Read more
Next Post
Do Kwon

South Korea asks Interpol to issue red notice for 'Terra' crypto founder

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Copy Protect PDF, MP3, MP4 and more, with Nexcopy USB Duplicator Systems .

Related News

How To Beat Escape from the Castle Claymount

How To Beat Escape from the Castle Claymount

December 2, 2023
Blooket

How to hack blooket

September 30, 2022
How to Get Ashenvale Mount Season of Discovery

How to Get Ashenvale Mount Season of Discovery

December 5, 2023
ARK Invest Reduces Exposure in Cryptocurrency Market, Sells $33M of Coinbase Shares and $5.9M of Grayscale Bitcoin Trust

ARK Invest Reduces Exposure in Cryptocurrency Market, Sells $33M of Coinbase Shares and $5.9M of Grayscale Bitcoin Trust

December 6, 2023
How To Update Minecraft Bedrock to 1.20.50

How To Update Minecraft Bedrock to 1.20.50

December 6, 2023
How To Use Guitar Hero Controller on Fortnite

How To Use Guitar Hero Controller on Fortnite

December 10, 2023

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at info@techstory.in

Advertise With Us

Reach out at info@techstory.in

BROWSE BY TAG

#Crypto acquisition AI amazon android Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk entrepreneurship Ethereum facebook flipkart funding Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT Russia Social Media SpaceX startup startups tech Tech news technology Tesla TikTok trending twitter uber whatsapp

© 2023 Techstory Media Pvt Ltd

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2023 Techstory Media Pvt Ltd

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?