Amica, the largest white goods producer in Russia, is contemplating constructing a new production site in the country within the next 2 years.
"Russia has 150 million customers and one Merloni white goods plant," said Jacek Rutkowski, Amica's president and main shareholder. "This will change. The final decision concerning the type of product to be manufactured at the new factory, should it get the go-ahead, will be made sometime before the end of the year."
Mr. Rutkowski added, "There should be no problem with financing." He says that if it is a cooker plant worth U.S. $20 million to 30 million, then Amica will construct it on its own. However, if it is some other larger type of facility, then the company plans to take out a loan., he notes. "We intend to pay long-term debts by 2006," Mr. Rutkowski revealed.
Last year, the firm lowered material costs by $20 million and posted a gross profit of 6 percent on its annual revenues. (Puls Biznesu)
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