Roshen, the leader of the Ukrainian confectionery market, has declared its intention to construct a chocolate factory in the Russian city of Lipetsk.
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The company said it will invest EUR30-50m (US$42.3-70.6m) in building the facility.
“The estimated area of the future factory is around 40 000-50 000 square metres capable of [producing] 10 000 tons a month,” Vyacheslav Moskalevsky, president of Roshen, revealed.
The company already has two Russian factories, producing hard candy, pastry and sweetmeats.
According to analysts, the aggressive expansion of Ukrainian confectioners to Russia may be explained by high tariffs on imported goods and by the stagnation of the Ukrainian domestic market.
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By GlobalData
