 |
SOLVAY (ISIN : BE0003470755) |
|
|
|
|
SOLVAY : INERGY AUTOMOTIVE SYSTEMS STARTS PRODUCING FUEL SYSTEMS IN ITS NEW PLANT IN STAVROVO, RUSSIA
|
|
(04/11/09 08:02 CET)
|
Embargo: November 4, 2009 at 8:00 am (Brussels Time)
INERGY AUTOMOTIVE SYSTEMS STARTS PRODUCING FUEL SYSTEMS IN ITS NEW PLANT IN STAVROVO, RUSSIA
The Solvay and Plastic Omnium joint venture serves Russian automotive market
Solvay today announces that its affiliate Inergy Automotive Systems, world leader in fuel systems for the automotive industry, has started production of plastic fuel systems for the Renault/Dacia Logan and Sandero at its new plant in Stavrovo about 200 km east from Moscow in Russia's Vladimir region. The plant could also produce fuel tanks for local car assembly operations of manufacturers including GAZ, AvtoVAZ and Nissan.
The commissioning of the new plant in Stavrovo is a new step in the geographical expansion of Inergy Automotive Systems into automotive markets with high growth potential. Russian car manufacturers are replacing the fuel tanks in steel by high performance plastic tanks.
Russia overtook Germany in the first half of 2008 as Europe's largest car market, but has since lost its lead in Europe due to the economical crisis. Though touched by the global crisis, some analysts expect that the Russian automobile industry will recover and become around 2012 the third largest in the world, behind the U.S. and China.
Inergy is expanding in Russia to meet growing demand from the country's rapidly developing automotive industry. In recent years it already has expanded to the east by constructing factories in the new member states of the European Union. It runs factories in Lublin in Poland, Pitesti in Romania and Bratislava in Slovakia.
"Inergy Automotive Systems has the ability to quickly establish itself in countries with an interesting automotive market. We expect the Russian market not only to grow in the coming years, but we also experience growth by the replacement of steel tanks by lighter plastic tanks. This new plant will reinforce the presence of our affiliate Inergy in the BRIC countries", said Jacques van Rijckevorsel, General Manager of the Plastics Sector and Member of the Executive Committee, Solvay. Inergy Automotive Systems is a joint venture of Solvay and Plastic Omnium.
Inergy Automotive Systems is the world's number one supplier of complete plastic fuel systems and fuel storage technologies (for petrol, diesel and biofuels). The company was set up as an equal share joint venture by the French company Plastic Omnium and Solvay. Headquartered in Paris, France, Inergy Automotive Systems employs approximately 4000 people worldwide and operates 22 manufacturing facilities in 17 countries. Details are available at www.inergyautomotive.com.
SOLVAY GROUP is an international chemical and pharmaceutical Group with headquarters in Brussels. It employs more than 29,000 people in 50 countries. In 2008, its consolidated sales amounted to EUR 9.5 billion, generated by its three sectors of activity: Chemicals, Plastics and Pharmaceuticals. Solvay is listed on the NYSE Euronext stock exchange in Brussels (NYSE Euronext: SOLB.BE - Bloomberg: SOLB.BB - Reuters: SOLBt.BR). Details are available at www.solvay.com.
For further information please contact:
ERIK DE LEYE
Corporate Press Officer
SOLVAY S.A.
Tel: +32 2 509 7230
erik.deleye@solvay.com
www.solvaypress.com
PATRICK VERELST
Head of Investor Relations
SOLVAY S.A. Tel. +32 2 509 7243
patrick.verelst@solvay.com
www.solvay-investors.com
Ce communiqué de presse est également disponible en français - Dit persbericht is ook in het Nederlands beschikbaar
Copyright Hugin
The appendixes relating to the press release are available on:
http://www.hugingroup.com/documents_ir/PJ/CO/2009/159976_88_HMCO_20091104EN.pdf
This announcement is originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
[CN#159976]
|
|
Source : SOLVAY
|
|
Provider : Hugin
|
|
|
|
