Ahlstrom is to invest approximately (euro) €38 million in a new glassfibre tissue production plant in Russia.
"In recent years, we have been able to strengthen our global market position as a specialty glassfibre tissue supplier, especially for the building and composite materials industries. The building materials market in Russia is growing rapidly. To further support the growth of our customers, we have now decided to invest in Russia", said Jukka Moisio, president and chief executive of Ahlstrom Corporation.
The new plant, located in Redkino, Tver Region, approximately 120 km North-West from Moscow, will in the first phase concentrate on specialty glassfibre tissue production, but the site also enables future expansions of Ahlstrom businesses in Russia. The investment comprises a new state-of-the-art glassfibre tissue line, as well as the building and necessary infrastructure. The new plant will be in production during the fourth quarter of 2007. When fully operational, the plant will employ approximately 70 people.
"Over the last five years we have considerably increased the capacity of our glassfibre tissue line at the Karhula, Finland plant. The Russian production plant will primarily serve the growing local markets, but the plant will also be a production platform for certain other European and emerging markets. This investment will also enable us to further intensify our innovation activities and to continue to maintain a strong production base at the Karhula, Finland plant", said Tommi Björnman, senior vice president, Ahlstrom Glass Nonwovens.
