“RusAl” and Omen will create a joint venture for the production of automotive components

“RusAl” and Israeli company Omen High Pressure Die Casting are going to create a joint venture in Russia for the production of aluminum automotive components for the automotive market of Russia and CIS countries. A memorandum of understanding was signed by parties recently.

The joint venture, in which the partners will own 50% of the capital, will be based on the industrial site of aluminum plant “Zapad”. “RusAl” will supply the joint venture with aluminum alloys in a liquid form, and Omen will create a modern high-tech production of automotive components in accordance with the best industrial standards, informed the agency “Finmarket”.

The project will be financed on a parity basement with the ability to attract foreign loans. Project details will be agreed by the parties within three months.

Company Omen High Pressure Die Casting, founded in 1946, is specialized in casting and forging of non-ferrous metals such as aluminum and copper. The company specializes in the manufacture of automotive components, such as the cover of an oil pump, carburetor cover, oil pan, spillway, cylinder heads, nipples, hanger of air conditioning compressor, water pump casing, the cover of valve, crank-rocker, support of the crankshaft, oil pump body and others.