Forte's Russian plant to start production this year

"Construction works will be concluded in mid-December and thus the first pieces of furniture will leave the plant still in 2005," said Maciej Formanowicz, president of Forte. The investment cost EUR 2 million less than the previously planned EUR 11 million thanks to moving location of the new factory to a smaller city. "The end of the year and the first months of 2006 will be the time necessary for reaching production capacity. On average, it will be used in 60% next year," explained Andrzej Korzeb, deputy financial president. Forte's plant in Russia will generate sales of EUR 20 million annually, while for comparison the whole company had sales of zł.400 million in 2004. "Profitability in Russia will be much higher," said the company's president. (Puls Biznesu, p. 8) M.M.