Amica to win Russia with a big delay

MG
12-10-2007, 17:21

Warsaw (Puls Biznesu) – The Polish white goods producer will build a plant in Russia but not immediately. The plant may be  bigger than planned before, however.

Amica said long ago that it would build a plant in Russia. It has the land, it has a credit from EBRD, it has even chosen the construction company already. Construction works were supposed to start this week but did not happen. Not because the company decided it was not profitable. On the contrary. Amica considers increasing the project. The new plant will be built near Sankt Petersburg. It was supposed to cost EUR 40m. The new plant may cost more.

In the second quarter, Amica, Poland’s biggest white good producer, exported EUR 36.3bn of goods, or 30 percent more than last year. One third of exports go to the east. Amica’s sales in Russia in the first half of the year, amounted to PLN 89.5m (EUR 23.8m), up from PLN 75.3m a year earlier.

 

 

(PLN 1 = EUR 0.266)

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