Russia: Acertec to establish local operations

摘要

ACERTEC, the parent company of Stadco, is seeking to expand its operations into the Russian automotive market, according to the Financial Times. The company's chief executive John Sword told the newspaper that he was looking to launch a joint venture with a partner in the St Petersburg region, where an increasing number of western vehicle manufacturers are setting up facilities. According to Sword, a decision on the expansion into Russia and the identity of the partner is expected within the next 12 months. The cost of the project is estimated at around ￡30m (US$56.9m).