Gestamp Signs MoU for Third Plant in Russia

Post date:
Monday, June 20, 2011 - 00:00
Country:
Russian Federation
Gestamp Signs MoU for Third Plant in Russia

Gestamp Automocion, a Spanish supplier of metal components and structural systems for the automotive industry, has signed a memorandum of understanding with Russia’s Tatarstan, under which it will explore the possible installation of a plant in Alabuga Special Economic Zone with an investment from €30 million to €50 million.

Gestamp also has signed an agreement on tax breaks with the Government of Leningrad for Severstal Gestamp Vsevolozhsk (GSV) for the next seven years. The GSV, where the group invested €70 million, is the first of two Gestamp plants in Russia (the other is located in Kaluga), and expects revenues worth €45 million this year.

The company is said to be considering another plant in theTogliatti SEZ to provide AvtoVAZ with stemped parts and welded assemblies.

Spanish automotive supplier Gestamp Automocion plans to set up a new plant in Tatarstan’s Alabuga SEZ
  • Magyar