Truck maker AB Volvo halts production in Russia

STOCKHOLM, Feb 28 (Reuters) – Swedish truck maker AB Volvo (VOLVb.ST) has halted all its production and sales in Russia due to the Ukraine crisis, the company said on Monday.

Volvo Group generates roughly 3% of its sales in Russia and has one factory in the country.

“We now have a bit more clarity on sanctions and security in the region… this means all operations in Russia end,” a company spokesperson told Reuters, adding that the measures would apply until further notice.

Reporting by Helena Soderpalm, editing by Anna Ringstrom, Editing by Louise Heavens