Oerlikon enters Russian growth market

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% 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 year. In 2007, foreign investment in the Russian economy amounted to US$82.3 billion. A further focus of Oerlikon's activities in Russia concerns the future market in Nano technology. The Russian government has published a development programme of up to €8 billion in order to lead Russian nano research and industry to world-class success in the next few years. Oerlikon will bring in their know-how as a development partner and, together with Russian institutions and companies, will develop products and solutions. „For Oerlikon, too, nano technology has become a key technology which is pinpointing new ways in practically every field of business", says Oerlikon CEO Krüger. Oerlikon and the Renova Group are working closely together to develop this market. As a strategic investor in Oerlikon, the Renova Group supports a strong expansion of the company's presence in the Russian market - the opening of new production locations, laboratories and scientific research centres. This procedure allows amongst other things the utilisation of Russian scientific-technical and intellectual potential plus representing the beginning of the development of innovative technologies in Russia.