In 1998 API invested $15.0 million in the Rasko glass container company located in Vladimir Region in the small village of Anopino, Russia. Rasko was an existing operating entity that had been privatized by management of the company headed by its CEO, Vitaly Mironov. Rasko was marginally profitable at that point and was producing 90 million bottles /year with existing Russian rotary production technology. With the API investment, Rasko proceeded to build a new factory in Anopino as well as upgrade the existing factory. In 2000, the company expanded to Veronesh and acquired a television tube manufacturer in that city and again proceeded with the upgrade to modern glass container production. Rasko grew to become one of the leaders in glass container production by 2007 when the fund exited this business. At that time, the company was producing 850 million bottles /year with revenues of $73 million on an annual basis. The company is in the process of expanding into Siberia with another new production facility and was sold to the management of the company. Rasko was a model citizen in the communities that it served sponsoring many local charities and building a new church for the people in its home town of Anopino.
