In a statement the group said it was closely monitoring the situation in Ukraine, and “the response of international governments and any potential impact on the group”.

The Mondi plant in Ukraine makes paper bags and is located in Lviv to the west of the country, around 70km from the Polish border. 

The plant employs around 100 people.

Mondi said that its much larger Russian operation accounts for around 12% of group sales by location of production, and primarily serves the domestic market. 

It has an integrated pulp, uncoated fine paper and packaging paper mill at Syktyvkar in Komi Republic, to the north-east of Moscow.

Mondi described the facility as “high margin and cost-competitive”.

Mondi has 5,300 employees in Russia. It also operates flexible packaging production sites at Peraslavl and Aramil, and makes corrugated products at Mondi Lebedyan.

In 2020 Mondi Group had sales of €6.66bn (£5.55bn). The group will announce its 2021 results this week. 

Mondi’s share price has fallen by 19.6% since the Russian invasion of Ukraine began on 24 February. Its shares were at 1,534.5p at the time of writing (52-week high: 2,088p, low: 1,427p.)