Russia acquires another Western company
Previously, the plant belonged to the German technology group Robert Bosch
Russian state-owned company NAMI announced Wednesday that it has acquired a 100% stake in a factory that produces anti-lock brakes and other systems for cars. The factory previously belonged to German technology group Robert Bosch.
NAMI, Russia's Central Automobile and Engine Research Institute, has been buying up assets from global automakers that left the country because of the Russian invasion of Ukraine.
NAMI has already taken over plants previously operated by automakers Renault, Nissan and Toyota.
The price of the transaction was not disclosed, but NAMI has acquired other assets at symbolic fees.
"In the past, the company was engaged in the production of steering systems, anti-lock braking systems and electronic stability program systems," NAMI said in a statement.
NAMI disclosed that the 107 employees working at the Samara Region factory at the time of the transaction would continue to work. The company is working with the Russian Ministry of Industry and Trade to resume production from 2024.