Finnish dairy major Valio has announced plans to invest over EUR30m (US$38.7m) to construct a new cheese plant in Russia.
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The facility will manufacture processed cheese and oversee distribution in Russia, the company said. It will be built in the greater Moscow area, where negotiations over the exact location are at an advanced stage.
The company has outlined plans to step up its investment in research and development in coming years. It is reported to be investigating products with specific health benefits.
Valio is strongly placed in butter, cheese and processed cheese in Russia. Valio butter and the company’s Viola brand processed cheese are the market leaders in their product categories.
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