S8 Capital holding received 100% control over plants for the production of Bosch spark plugs, power tools and heating boilers by concluding a deal to purchase the Russian assets of a German company in the city of Engels.
Holding representatives told Kommersant that all plants will resume work, but it is planned to change the brand within six months.
The company also assured that all employees – more than a thousand of them – will keep their jobs.
The publication recalls that in 2022 S8 Capital also became the owner of the plant of the American elevator manufacturer Otis in St. Petersburg (production was restarted under the Meteor brand).
“The new assets, in addition to our existing businesses, will expand production and scientific and technological cooperation between industrial sites, increase the level of their localization and, as a result, increase the efficiency of the production capacities of the S8 Capital holding,” Kommersant quotes S8 Capital Managing Director Torsten Schubert from the company’s press materials.
Author:
Ekaterina Alipova
Source: RB
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