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
Companies & Associations

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

Reifenhäuser acquires German spinneret company Enka Tecnica

April 17, 2015 9:31 am ET

Germany-based Reifenhäuser GmbH & Co. KG, a major manufacturer of extrusion equipment, has announced that it is acquiring Enka Tecnica GmbH, a German ...    More

Image

Spain's Grupo Antolin to buy Magna's interiors business

April 16, 2015 12:33 pm ET

Spain's Grupo Antolin has reached an agreement to purchase Canadian auto supply giant Magna International Inc.'s interiors unit in a deal valued at...    More

Image

Madison buys Ferry Industries

April 16, 2015 5:22 pm ET

Ferry Industries, the largest manufacturer of rotational molding machinery, was purchased by Madison Industries, a Chicago holding company that is...    More

Image

Caplugs gets new private equity owner

April 16, 2015 11:17 am ET

Caplugs, a major producer of caps, plugs, tubing, netting and other protective goods for industry, has a new owner.    More

Image

A. Schulman, Citadel discuss the $800 million deal

April 15, 2015 1:45 pm ET

The $800 million match of materials maker A. Schulman Inc. and Citadel Plastics felt good from the start. “Everything in our first meetings show...    More

Market Reports

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 Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

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

September 15, 2015 - September 17, 2015Plastics Caps & Closures - September 2015

More Events