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United Company RUSAL Plc and Omen to Create Joint Venture for Production of Automotive Components-SKRIN Newswire

Tuesday, 16 Apr 2013 05:17am EDT 

SKRIN Newswire reported that United Company RUSAL Plc (RUSAL) and Israeli company Omen High Pressure Die Casting (Omen) are going to create a joint venture in Russia for the production of aluminum automotive components for the automotive market of Russia and CIS countries. A memorandum of understanding was signed by parties recently. The joint venture, in which the partners will own 50% of the capital, will be based on the industrial site of aluminum plant Zapad. RUSAL will supply the joint venture with aluminum alloys in a liquid form, and Omen will create a production of automotive components in accordance with the industrial standards, informed the agency Finmarket. The project will be financed on a parity basement with the ability to attract foreign loans. Project details will be agreed by the parties within three months.