U.S.-based personal care and appliance maker Gillette Co. said it plans to invest U.S. $20 million in its St. Petersburg plant in Russia and more than double the plant's output, according to the Russian newspaper Vedomosti.
Gillette said it decided to close a plant in the UK and cut production in Germany and the Czech Republic and increase output in Russia to cut production costs. Russian analysts estimate the company's costs will decrease by some 30 percent as a result of relocation.
Also, Gillette said it plans to start exporting its St. Petersburg-made razors to the Middle East, Eastern Europe, and the U.S., the paper says. (Dow Jones)
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