German firm to invest in Russian syringe plant
By Eugene Gerden | PRW
MUNICH, GERMANY (July 27, 11:20 a.m. ET) -- Posted July 27, 2010
Munich-based Farmar is planning to set up a plant for production of disposable syringes in Russia’s Siberian Omsk region.
According to company CEO Jan Kostshevsky, the new plant will have capacity to produce up to 150 million disposable syringes each year and will compete with Chinese producers. Financial details were not disclosed.
Most of the syringes produced at the site will be sold within Omsk (where demand for syringes is estimated at 33 million to 35 million a year) and neighboring regions.
Construction of the plant is part of a major project being planned for Siberia, which aims to establish of an industrial cluster for production of medical equipment.
A PP resins plant at Omsk, which is scheduled to be launched later this year, is expected to provide raw materials for the Farmar facility.
Farmar is a holding company that provides medical services to overseas markets. In Russia, the company has offices in the Moscow and Perm regions.
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