Jan 12 2005
Alcan announced today that it is investing US$55 million in the Russian packaging market, to build and equip two new plants located in the Moscow and St. Petersburg regions. The Moscow site will focus on flexible packaging for the confectionery and dairy markets and the St. Petersburg site will be dedicated to tobacco packaging. These projects are a part of Alcan Packaging's strategy to develop its geographic footprint in growing economies.
"The Russian packaging market represents an attractive growth opportunity and is strategically important to Alcan," said Christel Bories, President and Chief Executive Officer of Alcan Packaging. "Alcan Packaging has already established a leading position in the Russian rotogravure food flexibles market and our aim it to do the same in tobacco. By further establishing our local manufacturing presence, we will be in a position to better serve our customer needs and to continue to deliver a full range of high quality products," she added.
The food flexibles facility represents an initial investment of approximately US$25 million for the construction of the greenfield facility and equipment to support print, lamination and die-cut capabilities. The greenfield tobacco packaging site is mainly focused on carton production, and will require an initial investment of approximately US$30 million.
Production will begin before the end of April 2006 in both facilities. More than 100 people will be employed in the Food Flexibles plant and 120 in the Tobacco Packaging operation.