St. Petersburg, Russia — Alcan Inc. (NYSE, TSX: AL) today celebrated the groundbreaking of its new packaging site in St. Petersburg, Russia. Announced on January 11, 2005, the initial US$30 million investment will see the construction of a state-of-the-art printing facility, located in the city’s Red Village area, focused primarily on the production of folding cartons for the tobacco packaging market.
"The Russian packaging market is strategically important and represents an attractive growth opportunity for Alcan Packaging," said Ralf Wunderlich, President Alcan Global Tobacco Packaging, who presided over the ceremony with St. Petersburg Governor, Mrs Matvienko and Mr Hector Cowan, Consul-General of Canada. "This investment substantiates our packaging presence in Russia - to better serve customer needs with high quality products," he added.
The site is expected to begin production before the end of 2006 and will employ approximately 120 people.
Under the jurisdiction of the Committee of Economic Development, Industrial Policy and Trade, St. Petersburg’s City Agency of Industrial Investments (GAPI) is actively supporting and monitoring the realization of the project.
Alcan is a multinational, market-driven company and a global leader in aluminum and packaging. With world-class operations in primary aluminum, fabricated aluminum as well as flexible and specialty packaging, aerospace applications, bauxite mining and alumina processing, today’s Alcan is well positioned to meet and exceed its customers’ needs for innovating solutions and service. Alcan employs approximately 70,000 people and has operating facilities in 55 countries and regions.
News source: freemarketnews.com
Print this news
Business news archive for 23 December' 2005.
Business news archive for December' 2005.
Business news archive for 2005 year.