COFIDES, as Fund manager for FIEX, has taken a 32% stake (for 11.3 million euros) and a 35% stake (for 25 million euros) in the new Chinese and Russian companies of the GESTAMP holding. GESTAMP is one of the leading groups in the automobile components manufacturing.

On the one hand, the project developed by GESTAMP in China consists in establishing a hot-stamping plant in Kunshan, close to Shangai. The total investment of the production plant amounts to 45.16 million euros.

On the other hand, the project in Russia consists in building and operating two automobile component production plants in Kaluga and St. Petersburg. The total investment in both plants amounts to 154.5 million euros.

It is estimated that the new plants will have a very positive effect on the local economies by creating 170 new jobs in China, 184 new jobs in Kaluga and 168 in St. Petersburg. Training programs addressed to local workers will reinforce these effects.

GESTAMP establishes in both countries due to new deals signed by the Group with international automobile manufacturers, which means a higher volume of production that will be assumed by the new Russian and Chinese plants. Furthermore, both China and Russia have become attractive and growing markets for automobile components suppliers.

GESTAMP Group is a leading Spanish manufacturer of metal components for the automotive industry. GESTAMP is also one of the world’s top 10 companies in this sector. The Group operates in 18 countries with 60 production centres, 3 R&D centres and 10 technical offices. GESTAMP has consolidated its position among the FIEX customers, which enabled the Group to start operations in Argentina (2002), Mexico (2004 and 2007), China (2009) and Russia (2009).