Finnish paper and fiberglass manufacturer Ahlstrom Oyj said 22 March 2006 it will invest around EUR 38 million in a new fiberglass tissue plant in Russia.
The investment further consolidates Ahlstrom…
Finnish paper and fiberglass manufacturer Ahlstrom Oyj said 22 March 2006 it will invest around EUR 38 million in a new fiberglass tissue plant in Russia. The investment further consolidates Ahlstrom“s position as a leading developer and manufacturer of specialty fiberglass tissues for the building and composites materials sectors. It is in line with the company“s strategy of investing in organic growth in emerging markets. The new plant, located in Redkino, Tver Region, around 120 kilometers north-west of Moscow, will concentrate in the first stage on specialty fiberglass tissue production, but the site also enables future expansions of Ahlstrom businesses in Russia. The investment consists of a new state-of-the-art fiberglass tissue line, as well as the building and necessary infrastructure. The new plant will enter service during the 4Q of 2007. When fully operational, it will employ approximately 70 people.