New production centre of OBO Bettermann officially opened at Lipetsk Special Economic Zone

 
LIPETSK, Russian Federation - Oct. 4, 2016 - PRLog -- Last Thusday Lipetsk Special Economic Zone hosted the opening ceremony of the new production centre by OBO Bettermann, a German producer of cable management equipment. The new facility is designed for cable routing and cable mounting hardware. The factory has become the ninth and one of the biggest facilities by OBO worldwide.

The launch ceremony was attended by OBO President Mr. Ulrich Bettermann, Presidential Plenipotentiary Envoy to the Central Federal District of Russia Alexander Beglov, Governor of the Lipetsk Region Oleg Korolev.

Starting from acquiring Lipetsk SEZ residency certificate in April 2014 OBO Bettermann has invested over $30 mln. into the facility as large as 20 000 sq.m. with the design capacity of 5 000 t. of metal components per year.

Speaking at the ceremony Mr. Ulrich Bettermann, the company president, observed, among other things, that Russian economy is steadily recovering from "the oil curse" and continues to increase its technology-intensive industries against the on-going slowdown on the world market. The tendency, said Mr. Bettermann, gives OBO management high hopes for the further development perspectives in the region, since the demand for high-quality wiring equipment in Russia has been growing drastically over the last few years.

The owner's son and would-be successor, Mr. Andreas Bettermann, in his interview told that the company has been working in Russia for 13 years constantly building up the volume of its import to the country over this time. With the amount of sales currently exceeding €30 mln it seems only logical for OBO to start production expansion.

"OBO was originally looking at a few other destinations for the new facility, but when we explored all of the competitive advantages Russian special economic zones offered we threw off every doubt and landed in Lipetsk. We take pride in the good relations we have established with the local community. The project was given comprehensive support and assistance at every stage and the plant construction went far ahead of schedule all the time", said Ulrich Bettermann while proudly taking the guests around his new acquisition.

The Bettermann family feels at home in Russia, publicly paying tribute to the country social and economic potential and consistently deploring the politically-motivated sanctions against the country.

OBO Group expects the new factory in Lipetsk to deliver up to 15% of the company's overall profit within the next 5 years, as Andreas Bettermann announced. The expansion of operations in Lipetsk SEZ will also give the company much more flexibility in logistics and pricing, help to localize resources and eliminate the risks of customs restrictions. Moreover, it will definitely bring OBO closer to a great number of its Russian and CIS customers.

*Founded in 1911 as a sheet-metal factory for fastening technology by Franz  Bettermann, OBO Group now produces 30,000 articles with 3,000 employees and an annual turnover level of over EUR 500 million with more than 40 subsidiary companies. OBO Bettermann Production LLC joined Lipetsk Special Economic Zone as a tenant in April 2014. More at http://obo-bettermann.com/

         *Lipetsk Special Industrial Economic Zone was set up with the Russian Government Resolution December 21, 2005. The industry priorities are machine building, equipment production, power engineering, home appliances production, surgical tools and equipment production, agricultural machinery production. Currently the SEZ hosts 47 companies from 14 states. More at http://sezlipetsk.com/

Contact
Elena Sushkova
Head of Investor Communications
esushkova@sezlipetsk.ru
+74742515243
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Email:***@sezlipetsk.ru
Tags:OBO Bettermann, investment in Russia, Special Economic Zones
Industry:Business
Location:Lipetsk - Lipetsk Region - Russian Federation
Subject:Companies
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