Building materials producer Wienerberger selling Russian business to local management

MOSCOW. June 15 (Interfax) - Austrian company Wienerberger AG, the world's leading manufacturer of ceramic building materials, is selling its business in Russia and is leaving the Russian market due to the Russian-Ukrainian conflict.

Wienerberger's Russian business will be bought out by its local management, the company said in a statement. The value of the deal has not been disclosed by the parties.

"We are deeply concerned over the effects of the conflict and want to make our contribution as a responsible company, taking a firm stance for freedom and peace," CEO Heimo Scheuch was quoted as saying in the statement.

The company has been operating in Russia since 2005. It has two plants in the country: Wienerberger Kirpich LLC and Wienerberger Kurkachi LLC, which have three production lines. The factories produce Porotherm large-format ceramic blocks.

The Russian business accounts for less than 1% of Wienerberger's revenues, the company said in the statement.