Russian company to benefit from 'Made in Finland' label

Finland's law-abiding reputation attracts Cytomed to invest in pharmaceutical and soya factories in Finland.

Russian-owned company Cytomed Oy has built a pharmaceutical factory in Joutseno, located near Lappeenranta in eastern Finland, close to the border with Russia. Cytomed aims to benefit from the positive image of products “Made in Finland” that it is planning to export to Russia, Belarus and Kazakhstan.

Cytomed's EUR 12 million factory in Lappeenranta will be producing medicines mainly for skin diseases, urological complaints and children's diseases. Cytomed is also in the process of constructing a soya factory in Uusikaupunki on Finland's western coast.

According to Cytomed's managing director Julia Volkoff, the decision to invest in Finland was also influenced by the speed and price of construction work in Finland. The most important factor, however, was that in Finland laws work and they are respected.

Source: Talouselämä