Italy-based Serioplast to invest 350M Russian rubles, build plastic packaging and bottle plant in Leningrad region of Russia; plant is being built especially for supplying products to Unilever, but production could expand down the road, says president

ST. PETERSBURG, Russia , November 21, 2013 () – The Italian company Serioplast will put 350 million rubles into the building of a plant that will produce plastic packaging and bottles at the industrial park Fedorovskoye in Leningrad Region.

The company's president, Carlo Luigi Innocenti, said during the signing ceremony for an agreement involving project support with Agency for the Economic Development of Leningrad Region on Thursday in St. Petersburg that this means investment in the first production line at the plant, which will be built especially for supplying product to Unilever, but production could expand down the road.

Serioplast's director for company development, Marco Chiodi, said the plant is slated for commissioning late next year. Its production capacity will be 60 million flasks per year and annual turnover 320-350 million rubles.

The company was set up in 1974. It saw turnover of 210 million euros last year and is expecting 230 million euros this year. it is part of the international group Old Mill Holding, the enterprises of which provide the full range of work from research and preparation work on production equipment to end-product output. The holding consists of 22 plants around the world. Among the holding's customers are Unilever, Coca-Cola, Henkel, and L'Oreal.

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