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Follow on Google News | Russia's KA enter automotive plastics JVswww.plasticsrussia.com for breaking news on the Russian plastics and packaging market. Plastics Russia and Packaging Russia bring the latest and most effective information to you
By: craig mcallister Russia's annual car sales are expected to return to pre-crisis levels of 2.9 million units in 2012, on the back of the government's car scrappage scheme and pent-up demand. Russia had been on track to overtake Germany as Europe's biggest car market before the global economic crisis sparked a collapse in sales in 2009. DSM and KuibyshevAzot (KA), a Russian chemicals company, said on Thursday they would set up a marketing and sales joint venture in Russia and other countries in the region, with DSM taking a 51 percent stake. DSM added it will buy 80 percent of an engineering plastics plant located at a KA manufacturing site, but did not disclose the financial details or the capacity of the plant. Engineering plastics are used in the auto industry. The deal, under which DSM will receive royalty income over a period of 15 years, is subject to regulatory approval. The acquisition of the KA plant is expected to be completed in the first quarter. (Reporting by Aaron Gray-Block; Editing by Sara Webb) # # # Www.plasticsrussia.com offers a quick and easy way to access russian plastics market specific information End
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