ZAGREB, Oct 10 (Croatia Sun News) – The AD Plastik manufacturer of plastic components for the automotive industry has closed a new deal on the Russian market valued at €40 million which brings the total value of contracts on the Russian market over the past three months to €157.9 million, the Croatian company said.
“In the past few months we have contracted deals worth €157.9 million on the Russian market, €147.4 million of which is with the Renault-Nissan-AvtoVAZ consortium for their new Lada Granta, Renault Logan and Sandero models. The start of serial production for these models is planned for the second and third quarters of 2021 and the contracts are foreseen to last for eight years,” AD Plastik said in a press release.
The deals were closed with the cooperation with the world-renown Hutchinson Group which generates a major portion of its revenue in the segment of developing and manufacturing seals.
The Hutchinson Group will be responsible for development while the AD Plastik Group will be responsible for industrialisation and the serial production of the contracted products, the press release said.
AD Plastik said that it considered its cooperation with the Hutchinson Group to be significant because it will contribute to improving competitiveness and enhancing the extrusion technology on the Russian market.
The Hutchinson Group is a manufacturer with its headquarters located in Paris, France. It is a subsidiary of Total SA. Hutchinson is a global leader in vibration control, fluid management and sealing technologies. With 44,000 employees in 25 countries, it said it generated revenues of €4.154 billion in 2018 and that its main goal is guaranteeing the comfort and safety of all Hutchinson customers.