Russian-American glassmaker Rasko plans to invest US$ 50 million to set up a glass container production plant in the Russian town of Voronezh. Rasko was formed in April 1999 by US companies Glass Part…
Russian-American glassmaker Rasko plans to invest US$ 50 million to set up a glass container production plant in the Russian town of Voronezh. Rasko was formed in April 1999 by US companies Glass Partners and Agribusiness International, and the Anopino Glass Factory, in which Rasko has a 51% holding. Company president Vitaly Mironov said that Rasko plans to buy the glass production facilities at Voronezh Electric Lamp Factory and set up production of beer bottles and small glass jars. Rasko forecasts that the plant will reach full capacity of 600 million bottles and jars a year by 2005. According to Mironov, Rasko is also planning a US$ 25 million plant to produce 450-500 million bottles a year at the Anopino Glass Factory in the Vladimir region. This would increase the company“s production capacity to 800 million bottles a year by 2005. The plant will produce bottles for producers of alcoholic beverages, with Moscow-based Kristall its main customer. Production of bottles for Moskva-Efes Brewery, Ochakovo, and Kaluga Brewing Company will be set up at Khomotron, a Moscow plant in which Rasko has a 46% stake. The company is to invest US$ 40 million in the project and bring plant capacity to 600-650 million bottles a year by 2005. The company“s board of directors is asking shareholders to waive dividends to the year 2005 so it can use all profits to expand production.