Russia’s Avtokomponent to Set Up Local JV with Zanini

Zanini will hold a 51% share of the joint venture, while Autocomponent will hold a 49% stake, Vedomosti reports. Production facilty, manufacturing equipment and staff will be provided by Autocomponent, and Zanini will provide the necessary technology. Production is set to begin in 2012 with an annual capacity of 300,000 wheel trims. The main customer will be AvtoVAZ. The investment in the first phase of the project amounts to €2 million and it includes the purchase and installation of new equipment. The JV plans to expand annual capacity to 1.5 million wheel trims over the long term.