Russian Machines and Fritzmeier
sign Memorandum of Understanding to create JV
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 30.05.2011 |
Tver, Russia. 30 May 2011. - Russian Machines, the leading machine-building holding in Russia, and Fritzmeier, the largest manufacturer of cabins for construction equipment and agricultural machinery in the world, have signed a Memorandum of Understanding to create a JV in Russia specializing in production of cabins for construction and road-building equipment. The investments in the new production will be more than $50 million.
The parties plan to set up a joint venture in Tver that will supply cabins to a wide range of construction, road-building and special-purpose equipment manufacturers in Russia, including both foreign OEMs having manufacturing facilities in Russia and Russian manufacturers.
The new joint venture will manufacture Fritzmeier cabins characterized by modern interiors, good visibility and additional features to improve drivers' safety and comfort.
In addition to manufacture of the existing Fritzmeier products, the parties are planning to carry out joint development of cabins for construction and road-building equipment designed specifically for Russian conditions of operation.
It is expected that the localization level of Fritzmeier cabins in Russia will be over 70% when the rated capacity is reached. To achieve this, the JV plans to involve Russian suppliers of components, as well as Fritzmeier's foreign suppliers willing to localize in Russia.
Creation of a JV between Russian Machines and Fritzmeier will ensure a high level of construction and road-building equipment localization, contributing to the development of the industry and infrastructure construction in Russia.
Fritzmeier is the largest independent designer, developer and manufacturer of construction equipment, agricultural machinery and rigid truck and forklift truck cabins in the world, and a supplier of plastic systems and components to the construction equipment, automotive, and aerospace industries. Fritzmeier serves all major construction equipment, agricultural machinery, automotive and aerospace customers, including AGCO, Audi, BMW, Bentley, Bobcat, Caterpillar, CNH, Daimler, Dynapac, EADS, Faurecia, Faun, GKN Aerospace, Hamm, Hitachi, JCB, Komat'su, Kubota, Liebherr, Lindner, Linde, Magna Steyr, Mahindra, Porsche, Rolls Royce, Scania, and Terex. The Company employs more than 2000 employees and operates a number of R&D and manufacturing facilities in Germany, Austria, Czech Republic, Romania, Belgium, France, Slovakia, Ireland and India.
Russian Machines Corporation is a large diversified corporation which holds industrial and engineering assets in the following segments: Automotive engineering, Automotive components, Railroad engineering, Aircraft engineering, Production of road-construction equipment, Production of special military vehicles. Russian Machines consolidates 26 enterprises located in 14 regions of the Russian Federation.
PR-Department, GAZ Group.
nataliava@ruspromauto.ru
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