RDIF and Adler Pelzer Group invest in expansion of Adler Pelzer Group activities in Russia
Press release, 24.10.2018
Moscow, October 24, 2018 - The Russian Direct Investment Fund (RDIF), the sovereign wealth fund of Russia and Adler Pelzer Group (APG) have signed a cooperation agreement to invest into the expansion of APG activities in Russia.
The agreement was signed today in presence of the Russian President, Vladimir Putin and the Italian Prime Minister, Giuseppe Conte.
Adler Pelzer Group holds a world leading position as automotive supplier of acoustic and thermal systems.
The partnership’s first joint project in Russia will be to invest in a new APG manufacturing location in Tolyatti. It involves the set-up of a modern production facility for acoustic and thermal systems for the automotive industry. APG has already two sites in Russia, in Kaluga and in St. Petersburg.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), noted: “We welcome the intention of one of the leading foreign strategic investors in the production of automotive components, Adler Pelzer Group, to expand its presence in Russia with modern products and innovative technologies. It is noteworthy that the current transaction brings together companies from several countries. Russian-Italian investments will be directed to expanding the business of Adler Pelzer Group in Russia, allowing further localization of technologies, products and work places.”
Paolo Scudieri, Chairman of Adler Pelzer Group, stated:
“Adler Pelzer Group has a long-standing presence in Russia. This agreement with RDIF will constitute a further platform of growth of our business for this important region. I am very pleased of this agreement and I am looking forward to its implementation.”
Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Further information can be found at www.rdif.ru
Adler Pelzer Group (APG) is a worldwide leader in design, engineering and manufacturing of acoustic and thermal components & systems for the automotive sector. With key value-added activities in-house, APG delivers components optimizing acoustic performance and increasing thermal efficiency of vehicles. APG engineers products to each specific vehicle need of our customers. APG is 100% owned by Adler Group, headquartered in Ottaviano, Naples, Italy. APG has built a network of manufacturing plants, research and design facilities close to the main automotive hubs in the major geographic regions, in more than 80 locations with over 11,000 employees worldwide and sales of €1.4bn in 2017.
www.adlerpelzer.com – Envisioning the future
For additional information contact:
Arseniy Palagin Andrew Leach / Maria Shiryaevskaya
Russian Direct Investment Fund Hudson Sandler
Press Secretary Tel: +44 (0) 20 7796 4133
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
Adler Pelzer Holding GmbH
Tel: +49 173 290 34 08