Avgol to install third spunmelt machine at its Russia site; thought to be a 20,000 mt unit
WILMOT, NH, April 29, 2021-
Avgol will be installing a third spunmelt machine at its plant in the Tula region of Russia, although it has not yet announced details of the project. A filing with the Tel Aviv Stock Exchange (TASE), where Avgol's stock is listed, said the company board approved the project on February 24.
The TASE filing was short on details, but it appears that a 20,000 tonne machine will be installed at a total project cost of $70 million, including warehousing and other facilities. The new machine, understood by market sources to be a Reicofil 5, will enable the company to broaden its product portfolio as well as meeting market demand growth in Russia and surrounding countries.
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