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Amica home appliances producer may build plant in Russia

APA - Austria Presse Agentur
opublikowano: 06-09-2005, 22:22

Warsaw (Puls Biznesu) – Amica, Poland’s listed home appliances producer, wants to build a cooker plan in Russia. The supervisory board is to approve of this project in November. The plant is to have capacity of 200,000 ovens a year. “Our analyses indicate that we should invest in Russia.

Warsaw (Puls Biznesu) – Amica, Poland’s listed home appliances producer, wants to build a cooker plan in Russia. The supervisory board is to approve of this project in November. The plant is to have capacity of 200,000 ovens a year. “Our analyses indicate that we should invest in Russia. We are currently looking for sites and soon we are going to start talks with local authorities”, Robert Stobinski, logistics director in Amica said.The company has already built its unit in Western Europe. In 2007, Amica plans to have PLN 500m (EUR 126.5m) of sales in Russia. Today, its whole exports exceed PLN 500m but only half of that is reached in the eastern markets. “We will start with the cookers. We would prefer to buy a plant, assets and shift part of production there. We are finishing modernisation of our production lines in Poland so part of the machines could be moved to Russia”, Robert Stobinski said. He refused to give details concerning the value of the investment, which mainly will be financed from long-term credits. Analysts welcomed the news but refrained from comments until some details are revealed. They stressed that the Russian market is very absorptive so building a plant there may be a profitable albeit expensive investment. The only threat is the increase in finance costs.(PLN 1 = EUR 0.253)

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Podpis: APA - Austria Presse Agentur