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Voronezh glass factory out for sale for $1.9m

Post Time:Jun 02,2009Classify:Company NewsView:333

An underbuilt Voronezh glass factory, located in the village of Strelitsa, the region’s Semiluksky district, is put out for sale for $1.9m, Kommersant reports.

The plant, located on a 6.8-hectare site, reportedly includes nine buildings and five technological units.

The plant construction started in 2002 by Voronezh Stekolny Zavod (Voronezh Glass Factory) together with Moscow firm Venium. A total of $4.7m has been invested in the plant construction to date.

Past report from 2003 - RASKO to invest in Voronezh glass plant
The Russian-American Glass Company (RASKO) plans to invest $12 million to $15 million in the development of its glass container plant in the city of Voronezh, the plant’s general director Victor Selyutin told Prime-Tass Tuesday. The funds will be invested to increase output using current production facilities, he noted. In 2003 the plant plans to produce 250 million bottles, up 100 percent on the year, he said. In 2004-05 the investments are expected to total $10 million and would be spent on upgrading the first line of the plant.
The plant was launched in July 2002, with pre-launch investments of $18 million. Currently, the annual capacity of the plant stands at 200 million bottles. RASKO became the largest glass container producer in Russia after the launch of the plant, according to company President Vitaly Mironov. Rasko’s strategic investor is U.S. government-backed investment fund Agribusiness Partners International LP (API). API is a $100-million limited partnership that was formed in 1995 to invest in agribusiness and food processing companies in the countries of the former Soviet Union. The Fund has a guarantee from the Overseas Private Investment Corporation, an agency of the United States government

Source: Voronezh Stekolny ZavodAuthor: shangyi

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