Kansk Russian factory needs investment

1 April 2003

The Kansk Leather Factory shut down in 2002 due to the complete loss of its assets. Vladimir Gorlov, legislative assembly deputy of the Krasnoyarsk region, said that the factory was an example of poor management under private owners. According to Gorlov, the factory is still structurally sound and the machinery intact. He said that around $2 million was need in order to restart production. At one time owned by the state and having sound business connections and providing 700 jobs, the factory was converted to a joint stock company in the nineties. Gorlov believes that the state should invest in order to provide jobs in the region. Source: [http://www.leathernet.ru]

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