"Cordiant" acquired a plastic auto components plant

The Cordiant holding, part of the Severgroup, has purchased a plant in the Nizhny Novgorod region from the French A.Raymond Group, which produces fasteners and plastic components, mainly for the automotive industry, with a capacity of approximately 10 million units per year, according to Kommersant. The deal amount is not specified.

The plant was opened in the Dzerzhinsk-Vostочный industrial park in 2015, and its customers included GAZ, UAZ, AvtoVAZ, and others. It is reported that the reason for the sale was the unprofitability of the enterprise from 2015 to 2023.

Cordiant confirmed the fact of the deal, noting that they "highly value the potential synergy between assets and plan to develop the positive effect of interaction between the holding's sites to meet the growing consumer demand".

Cordiant combines five tire plants, as well as the production of spark plugs, boilers, and power tools, previously owned by Bosch.

Photo: dzerjinsk.ru.