Germans win Ferrero contract for Russian factory

ferrero groupEssen, Germany - Italian confectionery group Ferrero has awarded a 91-million-euro (145 million dollars) construction contract to Hochtief of Germany to build its new chocolate factory in Russia, the German group said Wednesday.

Ferrero Russia Zao signed the contract at the start of this month for the site near Vladimir, 180 kilometres east of Moscow. When complete at the end of next year it will include an air-conditioned warehouse for the chocolates.

Essen-based Hochtief said it had ordered the building materials in advance at fixed prices to protect itself against rising costs. (dpa)

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