JV Uralchimplast-Huttenes Albertus announced $20 M investment

Joint Venture Uralchimplast-Huttenes Albertus announced it will invest 1.18 billion rubles ($20 million) into local production of chemical binder system (developed by Hüttenes-Albertus Chemische Werke GmbH, Germany) used for creating of advanced sand casting molds in the foundry industry. The company plans to launch the production by the end of 2020. 

The binder system is an important prerequisite enabling the foundries to deliver modern engine and machine parts for the country’s leading automotive and machinery producer such as AvtoVAZ, GAZ, KAMAZ, UralVagonZavod and others. Many of them have their own foundries and are direct customers of Uralchimplast.

Industrial Development Fund supports the projects with a loan of 490 million rubles ($8.5 million) granted under a privileged interest rate of 5% (far below market).

In total, the Industrial Development Fund granted so far loans to 14 companies located in the Sverdlovsk Region amounting to 2.65 billion rubles ($46 million). The total fund budget 2018 amounts to 8.53 billion rubles ($150 million).

Note:

Hüttenes-Albertus, a leading manufacturer of chemical products for the foundry industry and UCP Chemicals, one of the largest Russian manufacturers of synthetic resins and plastics, founded a joint venture to produce, market and distribute auxiliary products for the foundry industry in Russia, Ukraine, Belarus and all other countries of the former Soviet Union.
The joint venture “Uralchimplast-Hüttenes Albertus (UCP-HA)”, which started its activities in January 2013, is geographically located in Nizhny Tagil (Russia) and offers a wide range of products for the foundry industry to meet the growing market demand for technologically and environmentally advanced products. UCP-HA provides its customers with market-leading technologies based on the specific requirements and needs of each customer.
The broad product portfolio includes products for casting of ferrous and non-ferrous metals, covering the whole process from production technology, manufacture of moulds and cores, metal production up to the final machining of castings, thereby offering our customers a comprehensive solution.
“By combining the know-how of both companies we expect to create synergies and make efficient use of resources, a significant increase in productivity and a considerable optimisation in the technical application of our products in the foundries” – explained Dr. Carsten Kuhlgatz, CEO of Hüttenes-Albertus. “For UCP Chemicals this new joint venture marks another important step – to provide customers in Russia and neighbouring countries technically superior products for the foundry industry, in combination with a history of long lasting and mutually beneficial business relationship” – said Norbert Wieser, CEO of UCP Chemicals AG.

Source: Uralchimplast-Huttenes Albertus

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