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Italy's Candy Group opens washing machine plant in Russia

KIROV, June 16 (RIA Novosti) - Candy Group, Italy's biggest home appliance producer, launched the first unit of a washing machine plant in central Russia on Friday.

In 2005, Candy Group purchased the Vesta plant in the Kirov Region for 15 million euros ($19 mln) to produce Vyatka washing machines.

Governor of the Kirov Region Nikolai Shaklein said, "This is an important event for the region. The administration will make every effort to help all investment projects promoting regional development."

Candy Group chief executive Silvano Fumagalli said investment in the first unit stood at 2.5 million euros ($3.1 mln) and it would produce 140,000 washing machines a year. He said investment would be almost tripled to 7 million euros ($8.8 mln) in 2007 and output increased to make 240,000 machines.

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