Glassware producer ARC International Group has begun a multimillion-dollar renovation and modernization of Opytny Steklony Zavod, OSZ, glassware factory in the Vladimir region.
The French manufacturing group purchased a majority share in OSZ, located in Gus-Khrustalny, the traditional center of Russian glassware production, at the end of October.
After a process of modernization, the factory, 300 kilometers from Moscow, will have new glass production lines and will be able to produce not only ARC International Group's glassware, but that of Luminarc and Arcoroc. The plant currently employs 1,200 people and has two sodium-calcium glass ovens.
"Tens of millions of euros," will be invested in the modernization, the company said.
Chairman of the Board of ARC International Guillaume de Fougieres said, "our goal is to win market share." With its expansion into Russia, the company has also appointed a new chief executive, Francois Bonneville, for Russia and Eastern Europe.
ARC International said it already has a 32 percent market share of the glassware market in Russia and Eastern Europe. It estimates the sector's annual growth will be about 15 percent.