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Boryszew considers expanding in Russia

02/11/2011


Poland’s bullish automotive components group Boryszew is reported to be considering plans to construct two new production plants in Russia.
The acquisitive Sochaczew-based group is expected to take a final decision on the proposals for new facilities by two of its recently purchased subsidiaries, automotive tubing producer Maflow and plastic parts moulder Altmärker Kunststoff-Technik GmbH. (AKT) in the next few months.
Maflow is said to be in talks with the Russian offshoot of Renault and AKT is reported to be discussing a new supply deal with Volkswagen there and a feasibility study is understood to be currently underway. Press reports suggest two resulting plants could be located together on the same site.
VW has an existing plant in Russia’s Kaluga region which is reported to be operating to capacity and plans to invest around € 72 million to build a second facility.
In the first half of 2011, Warsaw Stock Exchange-listed Boryszew reported sales increased by nearly 48% to € 520 million and its net profit for the period was up 127% to € 25.4 million.
It was in August this year that the Polish car parts group took over the insolvent German plastic components moulder AKT based in Gardelegen, Germany. The insolvent Italian company Maflow was acquired by Boryszew last year.
The Polish group is attracted by the potential growth of vehicle demand in Russia where annual sales are expected to rise to around 2.5 million units this year.

Plastics.ru

     








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