Packaging manufacturer Specta AG plans to invest €3.5m in a project to expand the capacity of heavy duty polyester strapping tape produced at its main plant of VolgaStrap in Kostroma, Russia.
The scheme involves building additional facilities to raise output of PET tape along with extra warehouse storage space. At Kostroma the PET strapping capacity, with a fourth line, is set to increase by up to 3,000 tpa from the plant’s current 8,500 tpa production of the plastic packaging product.
In addition, the VolgaStrap facility, on the Volga River, north east of Moscow, manufactures 30,000 tpa of steel strip with both types used for industrial packaging in the metals, pipe, pulp and paper, wood processing and construction materials sectors.
The Finnish-Swiss owned Specta AG group, the biggest steel and polyester strapping producer in Eastern Europe, sealed the latest investment scheme at the recent St Petersburg Economic Forum. There, Specta’s president and co founder Erik Helin signed an investment agreement for VolgaStrap with Kostroma region governor Sergey Sitnikov.
Under the agreement, Specta now intends to implement a further project at the plant to produce marking products Including labels, tags and ribbon. It has already invested almost €413,000.
VolgaStrap already employs nearly 200 overall and the new projects will lead to the creation of a further 20 jobs there.
Specta has invested a total of €13.2m in its Russian manufacturing site since the group opened the plant back in 2007. Specta, which is today the biggest industrial packaging producer in Russia and the CIS countries, has just celebrated the 25th anniversary since the group’s formation.
It also exports its products across Europe as well as into the Middle East and as far as South Africa.