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UC RUSAL will create a joint venture with Omen HPDC

The largest producer of «winged» metal in Russia — OK «Russian Aluminium» («Rusal») and the company «Omen HPDC» (Israeli company specializing in molding parts from non-ferrous metals under high pressure) will create in Russia a joint venture, at the facilities where will produce aluminum parts for the automotive industry of the local market and the markets of neighboring countries. The other day the head of the organizations signed a «Memorandum of Understanding», in which the parties have identified the vectors of development of their business relationships.

According to preliminary agreements between the «Rusal» and «Omen», companies equally share the investment of the future joint venture. «We see the equal representation of the parties in the project, and at the same time does not exclude the participation of borrowed funds in its implementation," — commented on the event by representatives of the future joint venture. According to them, the subtleties of cooperation will be discussed at a further meeting between the heads of the companies, no later than three months will be closed with the majority of the project issues since the signing of the «Memorandum».

It is known that the new joint venture will be established on the basis of one of the existing smelters «Rusal» — the territory of any of the assets of the western division of the corporation. The draft Russian company will take over the supply of aluminum alloys in the enterprise needs, as the Israeli side (which has a wealth of experience in similar undertakings) will provide the setting process of the production joint venture.

«In light of the fact that the market for non-ferrous metals, aluminum supersaturated, is experiencing today is not the best of times, the expansion of business in the direction of output of high value added — a logical step for the normal functioning of the enterprise. A production of parts for automobiles — a very promising direction that the next 7−8 years will grow rapidly. Therefore, movement in this direction — a win-win for the company, «- he expressed his opinion about the creation of the JV head of the western division of» Rusal «- Alexey Arnautov.

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