France’s L'Oreal to invest 2.5 bln rbl in Russian plant by Jul 2017

MOSCOW, Mar 15 (PRIME) -- French cosmetics company L'Oreal plans to invest 2.5 billion rubles in expansion of its plant in Russia’s Kaluga Region until July 2017, the company said in a statement on Tuesday.

The French company plans to expand the production area by 13,700 square meters in order to almost double the plant’s output and to launch new technologies.

“Expansion of the plant demonstrates our will to supply the Russian market with high quality products at affordable prices, as well as our strategy to invest in the Russian market,” L'Oreal Russia’s CEO Claudio Cavicchioli said.

The plant with an area of 10,000 square meters, launched in 2010, produces hair care products such as shampoos and conditioners, and hair dye under L'Oreal Paris and Garnier brands.

Sales of L'Oreal in Russia amounted to 37 billion rubles in 2015.

(70.1542 rubles – U.S. $1)

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