Era Enters Glue Market

OAO Era in Tosno is to start a new area of activity in early December 1999: the production of industrial glues.

<BR>OAO Era in Tosno is to start a new area of activity in early December 1999: the production of industrial glues.<BR>The total investment is to be DEM 4.5m. Production will be officially started in mid-December 1998. The decision to start manufacturing industrial glues was made at the enterprise in 1996. <BR>Jurgen Schtarke, industrial glues director at OAO Era, told DP that stable orders from Russian enterprises are expected in future, which will allow the new factory to be run at 100% capacity. "Nevertheless, we intend to make a profit as early as in 1999," he added.<BR>The capacity of all of the production facilities deployed in the project is 5,000 tons of glues, given total capacity, working three shifts.<BR>The controlling share packet in OAO Era was acquired in 1993 by German concern Helkel, which proposed an investment program to develop production. In November 1998 the four-year program of investment in Era ended.