Printer Friendly

GRACE STARTS PACKAGING MATERIALS PRODUCTION IN RUSSIA; MCDONALD'S MOSCOW A LEAD CUSTOMER

 BOCA RATON, Fla., Nov. 11 /PRNewswire/ -- W. R. Grace & Co. (NYSE: GRA) today announced the start-up of packaging production in Volgograd, Russia with the newly created joint stock company, A/O Grace Kaustik. Grace also announced the sale of packaging equipment and materials to McDonald's Moscow, which represents the joint stock company's first customer for fresh meat packaging applications. Contract details were not disclosed.
 The formation of the multimillion dollar perishable foods packaging enterprise as a Grace majority-owned initiative with A/O Kaustik was announced last March. Grace's partner, A/O Kaustik, is a recently privatized major chemical and industrial concern employing more than 6,000 people in Volgograd, Russia.
 McDonald's Moscow uses Grace packaging equipment and barrier shrink materials at its fully integrated food processing plant outside Moscow to package and protect high quality meat for use in its restaurant as well as for sale to other restaurants and hotels in the Moscow area.
 "We are pleased to have a high quality, world renowned food service company, such as McDonald's Moscow, as the first fresh meat customer for A/O Grace Kaustik products," said Jean-Louis Grhze, president of Grace Packaging worldwide. "We expect Russia to become one of the largest packaging markets in the world and a significant complement to Grace's existing business in Europe. Together with McDonald's in Russia, we hope to make significant improvements in the distribution of fresh meat in the country.
 "Grace's contribution to the Volgograd joint venture amounted to several million dollars in modern equipment, advanced technology and financing in order to develop a more efficient food distribution system in Russia. Modernization of food distribution should lead directly to improvements in the quality of life for the people of Russia and neighboring countries," Grhze added.
 Grace manufactures packaging materials on a global basis under the tradenames Cryovac, Formpac and Omicron. These materials, which extend shelf life and promote the safe handling of food products, have revolutionized distribution systems used by the food processing industries. Grace Packaging has more than 9,000 employees in more than 100 countries and has annual revenues of $1.5 billion.
 Grace is the world's largest specialty chemicals company with a leadership position in specialized health care.
 -0- 11/11/93
 /CONTACT: Chuck Suits of W. R. Grace, 407-362-2600 or 800-GRACE99/
 (GRA)


CO: W. R. Grace & Co.; A/O Kaustik; McDonald's Moscow ST: Florida IN: CHM LEI SU: JVN CON

AW -- FL003 -- 3077 11/11/93 08:49 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 11, 1993
Words:409
Previous Article:HAYES WHEELS TO SELL INTEREST IN METALURGICA FPS do BRAZIL, LTD.
Next Article:CALIFORNIA CULINARY ACADEMY INC. REPORTS RECORD ANNUAL RESULTS
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters