PRESS: Cotton Club asks govt for 496 mln rbl to make diapers

MOSCOW, Jun 28 (PRIME) -- Russian producer of personal hygiene products and household chemicals Cotton Club has asked the government’s fund for industry development for a 496.25 million ruble loan to build an imports substitution production of packing and diapers, Kommersant business daily reported on Tuesday.

Cotton Club plans to produce 660 million diapers, 178 million plastic goods, and 198 million units of packing for personal hygiene products. Localization of diaper production is necessary as some transnational companies left Russia, while creation of new packing materials would reduce dependency on imports, the business daily reported quoting the project’s documentation.

Of the largest market players, U.S. giant P&G decided to reformat its operating activity in Russia, while the Russian unit of Unilever earlier said that contractions in imports of raw materials and packing may cause changes in the assortment of goods, Kommersant reported.

A representative of the fund for industry development told the business daily that the request was at a final stage of consideration.

(53.3641 rubles – U.S. $1)

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