Mitsui invests in RDIF-backed Cotton Way


japanese home_sqJapanese conglomerate Mitsui has agreed to invest in commercial laundry and textile management company Cotton Way, which is backed by the Russian Direct Investment Fund (RDIF).

RDIF said Mitsui “will significantly contribute to improve the operation and management of Cotton Way by introducing international best practices and offering significant experience and knowledge.”

RDIF CEO Kirill Dmitriev said, “Mitsui’s investment in Cotton Way brings significant strategic advantages that will enable the company to further strengthen its market leading position.

“This example of successful cooperation between Russia and Japan is another important step in continuing to strengthen the partnership between our two countries.”

Cotton Way provides commercial laundry and textile rental services to government agencies and private corporations including the Russian Railways, Russia’s Ministry of Defence, hospitals, fitness clubs and hotel chains.

RDIF and the European Bank for Reconstruction and Development invested a total RUR3.6bn ($106.6m) in Cotton Way last month.

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