27 May 2004 00:10
Lorenzi to open heater plant in Leningrad region
ST. PETERSBURG. May 27 (Interfax) - Italy's Lorenzi Vasco Group plans to invest $50 million in the construction
of a Thermex electric heater plant in Russia's Leningrad region, a source in the regional committee for foreign
economic relations told Interfax.
The company plans to start building the plant in the Tosno district of Leningrad region this fall.
"The first phase of the investment project will be completed in 2005," the source said.
Lorenzi Vasco Group is one of the top three producers of electric heaters in the world. The company sells products in
over 164 countries and produces over 1.5 million water heaters per year. [RU EUROPE ASIA EEU EMRG IT ELC] rd
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