MOSCOW, April 13, 2017 – UC RUSAL (SEHK: 486, Euronext: RUSAL/RUAL, Moscow Exchange: RUAL/RUALR), a leading global aluminium producer, acquires a stake in the Casting and Mechanical Plant SKAD Ltd (SCAD) located in the Krasnoyarsk Territory and manufacturing aluminum alloy wheels for cars.
Under the terms of the transaction, RUSAL will own a stake in the authorized capital of Casting and Mechanical Plant SKAD Ltd. Idris Zakriev, its founder, will remain General Director of the company.
SCAD manufactures wheels from aluminum alloys for motor vehicle manufacturers in the Russian and foreign markets. In connection with the growth of the consumer demand and for the further development of the factory, the SKAD management decided to attract financing through a strategic partnership.
'The integration of SKAD into RUSAL's production structure fully corresponds to the strategic goals of the company. The deal will facilitate a further growth of sales of products with added value of the highest quality both in Russia and on the export markets,' said Vladislav Soloviov, RUSAL’s CEO.
Information:
Casting and Mechanical Plant SKAD Ltd was founded in 2002, the beginning of manufacture - 2004. Products under the SKAD brand are widely represented in Russia and CIS countries. SKAD actively cooperates with leading automobile companies around the world, such as Ford Motor Company, Volkswagen, Peugeot, Citroen, KIA, Toyota Motor Corporation and others. The SKAD's current production capacity is 1.2 million wheels a year with the potential to increase the output to 2.0 million wheels per year.
SKAD performs the full technological cycle of manufacturing aluminum wheels: From preparation of liquid melt to painting, packaging and shipment of finished products to the end user. The wheel manufacturer is a consumer of primary aluminum and alloys produced by RUSAL's smelters.