Biomar Ceases All Activities with Russia

Until further notice,BioMarhas taken the decision to stop trading with Russia.

The decision applies to all BioMar entities around the globe. BioMar developsperformance dietsfor more than 45 different fish and shrimp species in more than 80 countries.

The ban is a major step for the company, as substituting raw materials and losing sales volume will have a significant impact.

“This has not been an easy decision, but as a company driven by our purpose and values, we must take a stand," says Carlos Diaz, CEO in BioMar Group.

"We believe it is our responsibility to make a positive impact on the environment and human rights around the world. Therefore, we will not collaborate with Russia while they are violating the sovereignty of Ukraine and causing a humanitarian crisis."

Diaz says that unfortunately the decision will have a significant impact on their customers in Russia, and it might impact our formulation costs going forward.

"We needed to draw a line in the sand," says Diaz. "We do not hold the Russian people responsible, and we will do what we can to find solutions for our customers and employees. Despite the impact we believe is the right thing to do."

All BioMar employees in Russia and Ukraine are being kept in employment and supported by the BioMar organisation, despite business activities being disrupted.

—Lisa Cleaver