Lotte builds a new plant in Russia

Lotte Confectionery has begun work on a new confectionery plant in Russia, reported The Korea Herald. For the construction of this facility, the firm will put in $85 million. The Xylitol chewing gum and chocolate sweets like the Dream Pie will be manufactured at this plant, which is expected to be completed by 2009. For the first year of its operations in Russia, the firm has set a target turnover of $10 million. The company first entered Russia in 1995 and since then this is the first such facility for Lotte Confectionery in the country. After the construction for this plant is over, the company intends to commence work on another plant for producing its Peppero snack.