Amica announces tender for Russian plant

Construction is scheduled to begin at the end of the summer for the plant, which will manufacture cookers. It will be partially financed with a USD25,3 million loan from the European Bank for Reconstruction and Development, with the cost of the whole project slated at EUR39 million. Currently Amica exports over a half its production, locating the plant in Russia will ensure big savings on this front. Amica also recently set up a company in Hong Kong and is mulling over purchasing equipment in the East and then selling it under its own brand. Even now the company buys much of its equipment in China, including refrigerators, dishwashers and microwaves. It then sells them in Germany under its own brand. (Puls Biznesu p. 8) M.M.