€38 million fibre plant

Finland's Ahlstrom recently announced that it will invest approximately €38 million in a new glassfibre tissue production plant in Russia.

‘The building materials market in Russia is growing rapidly. To further support the growth of our customers, we have now decided to invest in Russia”, said Jukka Moisio, President and CEO of Ahlstrom Corporation.

The new plant, located in Redkino, Tver Region, approximately 120 km Northwest from Moscow, will concentrate initially on specialty glassfibre tissue production.

The new plant will be in production during the fourth quarter of 2007. When fully operational, the plant will employ approximately 70 people.

’The Russian production plant will primarily serve the growing local markets, but the plant will also be a production platform for certain other European and emerging markets.’ commented Tommi Björnman, Senior Vice President, Glass Nonwovens.