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Novares to start manufacturing in Russia

January 14/2020

MOSCOW (MRC) -- Novares has opened its first site in Russia, in Togliatti, home to the AvtoVAZ factory that produces Lada cars, said the company.

It is the 13th new manufacturing site that Novares has inaugurated in the past seven years, as well as extending 23 existing factories, as part of its international expansion strategy to be close to its customers.

The company has rented a 1,860 m2 site situated in the industrial park of AvtoVAZ, which is part of the Renault-Nissan Alliance. The factory will begin producing engine parts in May 2020, then Novares will rent a further 2,600m2 at the start of 2021 and expand production to include making and assembling roof bars.

The site will employ 130 workers by 2021 and is anticipated to achieve a EUR13 mln turnover by 2025.

The factory is one of three, following Mioveni in Romania and Kenitra in Morocco, that Novares has set up to better accompany the Renault-Nissan Alliance as it increases its production around the world.

"Opening this factory in Russia is part of our long-standing growth strategy, which includes being close to our customers wherever they are in the world. It is our first step into the Russian market, and the site will enable us to better evaluate and develop our offer in the country as a whole,"  said Pierre Boulet, CEO of Novares.

As MRC informed earlier, Russia's output of chemical products dropped by 3.2% in November 2019 month on month.
However, production of basic chemicals increased by 3.6% in the first eleven months of 2019, according to Rosstat's data. According to the Federal State Statistics Service of the Russian Federation, the largest increase in production volumes on an annualized basis accounted for mineral fertilizers and polymers in primary form. Last month, 255,000 tonnes of ethylene were produced versus 210,000 tonnes in October; by November, Russian producers had completed all their scheduled works. Thus, 2,721,000 tonnes of this olefin were produced in January-November 2019, up by 0.3% year on year.
Author:Anna Larionova
Tags:ABS, PP, PS, car components.
Category:General News
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