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Oerlikon opens office in Moscow for better prospects

18
Apr '08

With official opening of their office in Moscow, the Oerlikon Group is underlining their intention to target the Russian market in the future.

Business relationships have already been initiated with a current turnover of approx. CHF 50 million. "Russia and the Commonwealth of Independent States offer great potential for us in the medium and long-term.

Our portfolio of industrial high-tech solutions, the dynamics of the Russian national economy plus a close partnership with our investor Renova provide optimal pre-requisites for rapid expansion into this important economic zone", says Dr. Uwe Krüger, CEO of Oerlikon.

"Oerlikon is an important partner in the development of a Russian high tech industry", says the Chief Investment Officer of the Renova Group and Vice-President of the Board of Directors of OC Oerlikon, Vladimir Kuznetsov.

With 170 locations in 35 countries, Oerlikon is very well represented globally. The company has grown strongly in the past few years especially in the Asian region, almost 40 per cent of its turnover being produced in the Far East.

Eastern Europe and Russia in particular still have a great deal of development potential. "The Russian national economy finds itself in a fundamental change with the high tech sector gaining more and more importance", states Kuznetsov.

The Russian national economy has been growing in the last few years at a rate of 6 - 7 per cent per year. In 2007, foreign investment in the Russian economy amounted to USD 82.3 billion.

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