NEWS

Daido Metal Russia LLC and the Nizhny Novgorod region Government have signed a cooperation agreement.

On 04.11.2015 the Board Chairman of Daido Metal Co. Ltd, Japan Mr. Seigo Hanji met with Valery Shantsev, the Governor of the Nizhny Novgorod region. During this meeting they signed a cooperation agreement between Daido Metal Russia LLC and the Nizhny Novgorod region Government. The parties discussed the project for a new plain bearings production in Zavolzhye, Nizhny Novgorod region, for YAMZ and КАМАЗ engines. Investment in a new production is 639 million rubles. Production will be started in March, 2016.

As stated by Valery Shantsev, cooperation with Japanese companies is a priority of foreign economic activity. High attention will be paid to strengthen business partnership with Japanese companies. Such meetings help to bring partnership to a new level and initiate further development of plans and ideas.

The Governor has emphasized that this investment project was recognized as the best in the region’s automotive industry in 2014.

As Mr. Seigo Hanji said, Russia and the Nizhny Novgorod region in particular have great potential in economic development. For that reason the company plans to increase production in the Nizhny Novgorod region in future.

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