Schaeffler Establishes Manufacturing Location in Russia

The governor of the Ulyanovsk region in Russia, Sergej Morozov, and the general director of the development agency of the Ulyanovsk region, Dmitrij Ryabov, have signed an agreement about the construction of a Schaeffler plant in Ulyanovsk. The managing director of Schaeffler Manufacturing Rus, LLC, Mikhail Volkov, signed the agreement on behalf of Schaeffler. The agreement will be signed by Schaeffler management in Germany during the next few days. Schaeffler is planning to set up its first manufacturing location in Russia in the Volga region.
"We have successfully met some very ambitious targets during the last few years. Ulyanovsk has developed to become one of the most attractive regions for investors in Russia due to the creation of a favorable climate for investment and its close collaboration with global companies. The Schaeffler Group is one of the leading suppliers to various industries - not only in Europe, but all over the world. The investment in this excellent project in the Ulyanovsk region is worth around 2 billion rubles and it will create 450 new jobs in the next five years", announced Sergej Morozov, governor of the Ulyanovsk region.
Schaeffler would like to increasingly participate in the upturn and the growth in the region and further develop its business in Russia. "I am very pleased that we will soon be opening a manufacturing location in Russia and that we will be able to supply our customers directly. The conditions in the region are very good and cooperation with the authorities was very constructive", said Dr. Juergen M. Geissinger, CEO of Schaeffler AG. "The plant in Ulyanovsk will become part of our global network of manufacturing locations and will manufacture products for various applications for both our Automotive and Industrial divisions. The total investment is around 2 billion rubles", he continued. "This plant for industrial and automotive components will be built on a site measuring 22 hectares in the Zawolzhje regional industrial park," Mikhail Volkov, managing director of Schaeffler Manufacturing Rus, LLC, added.