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Article: British American Tobacco wraps up four-year investment program in Russia.
- Article from:
- Russia & CIS Business and Financial Newswire
- Article date:
- July 21, 2009
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British American Tobacco wraps up four-year investment program in Russia
MOSCOW. July 21 (Interfax) - British American Tobacco has wrapped up an investment program aimed at expanding the production capacity of its Russian plants, BAT Russia corporate relations director Alexander Lyuty told Interfax.
BAT launched the program in 2005 and it continued until mid-2009.
Over this period, the company invested some $117 million in the development of its plants.
According to the SPARK database, total net profit at BAT's three plants in Russia - BAT-Yava, BAT-SPB and BAT-STF - declined almost 50% to 1.9 billion rubles in 2008 from 3.6 billion ...