Autocomponent Group buys Russian auto supplier

Richard Higgs
EUROPEAN PLASTICS NEWS

Published: January 20, 2014 2:18 pm ET
Updated: January 20, 2014 2:37 pm ET

Related to this story

Topics Mergers & Acquisitions, Europe, Automotive, Automotive parts

Fresh consolidation in Russia's auto parts manufacturing sector has seen Autocomponent Group acquire the bankrupt supplier OAO Plastik of Syrzan.

OAO Plastik, previously controlled by the car seat and components maker Krista Group, relied heavily on one major customer, AvtoVAZ, and accumulated debts amounting to more than 66 million euros ($89.5 million).

Plastik saw a 20 percent fall in production and suffered reduced revenues, particularly in 2012, due to AvtoVAZ phasing out its classic Lada models and decreasing production of volume cars, such as the Lada Samara, Priora and Kalina, according to Russian press reports.

The firm recorded turnover for 2012 down 12.7 percent on the previous year at 123 million euros ($166.8 million). That year, it made a net profit of just short of 618,000 euros ($835,264)

Nizhny Novgorod-based Autocomponent, which completed the takeover deal in December 2013, agreed to restructure Plastik's debt with the state Sberbank and AvtoVAZ over seven years.

Its plans for the Plastik operation include raising production, diversifying its product lines and expanding deliveries to AvtoVAZ for new vehicle models. The firm molds a wide range of plastic and composite products for vehicle interiors, exterior and engine parts.

Autocomponent has a production unit in the nearby industrial centre of Togliatti to serve local Renault and AvtoVAZ assembly plants. The facility works with engineering support from the global French components supplier Faurecia SA.

Apart from Lada, Plastik has supplied components for other vehicles including GM-AvtoVAZ, GAZ, UAZ and Kamaz.

Autocomponent operates parts joint ventures in Nizhny Novgorod with the leading car wheel trim producer Zanini of Barcelona, Spain and polymer-composite gas cylinder Hexagon Composites of Ålesund, Norway.


Comments

Autocomponent Group buys Russian auto supplier

Richard Higgs
EUROPEAN PLASTICS NEWS

Published: January 20, 2014 2:18 pm ET
Updated: January 20, 2014 2:37 pm ET

Post Your Comments


Back to story


More stories

Image

Ineos making its UK shale play

November 21, 2014 9:29 am ET

Chemical giant Ineos Group AG is planning to be the biggest player in the United Kingdom's shale gas industry.    More

Image

UK plastics firms target customers in Mexico and Central America

November 20, 2014 4:31 pm ET

The British Plastics Federation is stepping up its interest in Latin American markets, as evidenced by its debut appearance at the Plastimagen México ...    More

Image

High pressure RTM systems moving from Europe to Mexico

November 20, 2014 4:24 pm ET

Engel Holding GmbH's subsidiary in Mexico says it has sold the first high pressure resin transfer machine system (HP-RTM) in the Americas to a...    More

Image

Thomson Plastics opens N.C. plant

November 20, 2014 3:12 pm ET

Custom injection molder Thomson Plastics Inc. has opened a new manufacturing facility in Lexington, N.C.    More

Image

PET film maker Evertis expanding production in Mexico, Brazil, Portugal

November 20, 2014 2:52 pm ET

Evertis, a PET film maker, is expanding production at plants in Mexico, Brazil and Portugal, the company said.    More

Market Reports

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events