Source Pravda.Ru

Rockwool invests EUR 40 million in factory in Leningrad Region

Danish company Rockwool International is to build a factory for producing nonflammable isolation materials from mineral wool in Vyborg (Leningrad Region). According to the regional committee on the economy and investment, the project was approved at a meeting of the interdepartmental commission for production sites. The factory will produce rolls of nonflammable insulation for building and engineering systems, as well as heat and sound isolation panels for walls and ceilings.

The new factory, which will be spread over a 30-hectare site, will employ 200 people. The project will cost EUR 40 million and is expected break even within 7-8 years. Construction of the factory is scheduled to be completed by December 2005.

The Danish company held its first talks with regional officials in the spring of 2003. It choice the Leningrad Region for its new factory because of the area's proximity to mineral deposits on the Kola Peninsula and its well-developed infrastructure and transport arteries. The company is considering two possible sites for the new factory. One is in the industrial zone close to Lazorevka station and the other is in the Vyborg timber plantation.

Rockwool, which produces isolation materials, was founded in 1937 in Denmark. The company currently has 23 factories in 14 countries and a network of sales offices. Since 1999 it has had a factory in the Moscow Region.

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