Canadian automotive parts giant Magna International (MG) is joining other Canadian companies in suspending its Russian operations following the country's invasion of Ukraine.
The Aurora, Ontario-based company said it is “deeply concerned with the very unfortunate situation in Ukraine.”
Magna has six auto parts plants in Russia and about 2,500 employees in the country.
Although it doesn't have facilities in Ukraine, Magna says thousands of Ukrainians work in its global operations.
Magna also says it is making a significant donation to the United Nations Refugee Agency and will match employee contributions.
The action comes a day after Kinross Gold (K) said it is suspending all activities at its Udinsk development project in Russia and is in the process of suspending operations at its Kupol mine.
