Cargill facility 'seized' in Ukraine
The global agri-giant ceased operations at the plant on July 4 as tensions increased in the area, and no Cargill employees are present at the facility - which produces sunflower oil and meal. The facility was subsequently occupied by a ‘small number of armed individuals’, according to a Cargill spokesperson – who added that the firm cannot predict when the plant will reopen.
The plant is in the Donetsk region in eastern Ukraine, where the government is battling pro-Russian separatists.
Cargill has been present in Ukraine for 21 years and has more than 700 employees in the country. The US-based giant also bought a 5% stake in UkrLandFarming Plc, Ukraine’s biggest agricultural company, for $200m in December.
UkrLandFarming Chief Executive Officer Oleg Bakhmatyuk said July 1 that he postponed a planned initial public offering for his company because of political violence in Ukraine.
