Rusal acquires share of Skad
Under the terms of the transaction, Rusal will own a stake in the authorised capital of Skad and its founder, Idris Zakriev, will remain as Chief Executive Officer of the production facility.
Skad produces alloy wheels for the Russian and overseas auto markets and, due to the growing consumer demand, Skad’s management decided to raise funding by attracting a strategic partner for further development of the production facility.
‘Integrating Skad into the Rusal's structure fits perfectly with the Company’s goals, and will also contribute to a further increase in the sale of value added products of international quality level both in Russian and export markets,’ stated Vladislav Soloviev, Chief Executive Officer of Rusal.
Founded in 2002, foundry and mechanical production facility Skad started the production output in 2004. Skad products are widely represented in Russia and other CIS countries and the company actively cooperates with leading automobile companies around the world, such as Ford Motor Company, Volkswagen, Peugeot, Citroen, Kia, Toyota Motor Corporation etc. The current capacity of Skad is 1.2 mln wheels per year with a potential increase in the output to 2.0 mln wheels per year.
Skadperforms a complete technological production cycle of aluminium wheels: from preparation of liquid melt to painting, packaging and shipment of finished products to end users. The wheels producer is a consumer of primary aluminium and primary aluminium-based alloys that are produced at Rusal’s production facilities.
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