Merloni Elettrodomestici SpA, a subsidiary of Italian construction company Merloni Progetti has opened a washing machine plant worth $50 million in Central Russia’s Lipetsk Region.
The plant will produce washing machines under the Indesit trademark. In 2004 it plans to produce about 150,000 units. The full production capacity of one million washing machines is expected to be reached in three to four years, and the plant plans to break even in two years.
In addition to the new washing machine plant Merloni owns the Stinol refrigerator plant which is also based in Lipetsk. In 2001-2003 the company invested a total of †23 million in the plant, and plans to invest an additional †5 million this year.
The Italian company supplies the Russian market with four kinds of home appliances “” refrigerators, stoves, dishwashers and washing machines “” under the trademarks of Stinol, Ariston and Indesit. Merloni accounts for 35 percent of Russia’s market of washing machines and for 36 percent of the home appliances’ market.
From mosnews.com
Not Snowcap again…….please!
Penguin.