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Croatia's AD Plastik seals 32 mln euro car part deals in Russia, Europe

Croatia's AD Plastik seals 32 mln euro car part deals in Russia, Europe Croatian manufacturer of plastic components for the automotive industry AD Plastik, Photo: AD Plastik

ZAGREB (Croatia), January 29 (SeeNews) - Croatian manufacturer of plastic components for the automotive industry AD Plastik [ZSE:ADPL] said on Wednesday it has signed two contracts worth a total of 31.8 million euro ($35 million) for the production of car parts for the Russian and European markets. 

AD Plastik signed a 22.4 million euro with the Renault-Nissan-AvtoVAZ alliance in Russia, and a 9.4 million euro contract with France's PSA Group, the Croatian company said in a filing with the Zagreb Stock Exchange (ZSE). 

Under the deals, AD Plastik's Togliatti plant in Russia will manufacture absorbers and exterior pillar trims for the new Lada Granta model, as well as front bumper lower grills for the Renault Logan and Sandero models, the statement said. 

The start of serial production of these models is planned for the second and third quarters of 2021, with an estimated project duration of eight years. 

The Lada Granta deal is worth 15.2 million euro, while the production of car parts for the Renault models totalls 7.2 million euro. 

Moreover, AD Plastik's Mladenovac plant in Serbia will produce glass run channels for Opel Astra in a deal worth 5.8 million euro, with serial production planned for the fourth quarter of 2021, with an estimated project duration of eight years. 

In addition, the company's factory in Croatia's Solin will manufacture exterior components for Fiat Ducato and Opel Vivaro, worth 2.2 million euro. The serial production of these models is planned for the fourth quarter of 2021, with an estimated project duration of two years. 

Finally, AD Plastik will also produce air extractors for Peugeot 308 and Opel Astra in Solin, in a deal worth 1.4 million euro, with the serial production planned for the first quarter of 2021, with an estimated project duration of seven years. 

AD Plastik's shares traded at 195 kuna by 1109 CET on the ZSE on Wednesday, unchanged from Tuesday's close. 

($ = 0.908808 euro) 

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