The combination of strengths of both partners will enable the Joint Venture to supply local and international car makers in Russia, Belarus and Ukraine with high quality, state-of-the-art coatings and to provide a full-scale technical support for their coating processes.
The Joint Venture's product offering consists of all coatings for passenger cars, trucks and buses, including off-line painted plastic parts, and exterior and interior metal parts. The products will be toll manufactured by Russkie Kraski or imported from DuPont's manufacturing sites around the world.
Both DuPont and Russkie Kraski will exclusively grow their coating business for the Automotive OEM industry in CIS countries through the joint venture. The new joint venture intends to significantly expand its current combined market share that currently amounts to more than 25 percent.
The Joint Venture will invest in a Technical Centre for quality control and technical service in Yaroslavl. Operations will be staffed with qualified personnel from Russkie Kraski and DuPont.
During the signing ceremony, DuPont officials said that the formation of this Joint Venture results from DuPont's strong commitment to invest and grow in Russia to best respond to its evolving market needs.
Michel Bladt, DuPont President, Eastern, Central Europe, Middle-East & Africa, said, “We are pleased to be partnering with such a strong local partner as Russkie Kraski.”
“By combining Russkie Kraski's strong market position, manufacturing and technical excellence with our company's technology leadership in the field of automotive coatings globally, we are committed to responding to local market needs in Russia and neighbouring CIS countries, in a timely and tailored fashion,” he added.
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