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DowAksa, Rusnano and Holding Company Composite determine joint investments into Nanotechnology Center of Composites

News International-French

8 Nov 2013

The companies signed an agreement that clarifies the terms of future investments in the Nanotechnology Center of Composites, which is a joint project of HCC, and the Fund for Infrastructure and Educational Programs (FIEP, a member of Rusnano Group).

Each party – HCC, DowAksa and FIEP – will ultimately own one third of the total charter capital of the Nanotechnology Center of Composites. When legal agreements are finalized in the next several months, DowAksa will become an equal participant of the Nanotechnology Center of Composites. DowAksa is anticipating to take part in the second round of financing of NCC and invest in NCC Charter Capital the amount of approximately 134 Million Rubles (approximately $4.3 Million USD) which translates to a 33 1/3 percent share. This anticipated investment is included in the current DowAksa 10 year business plan and is funded by the initial investment by Shareholders. HCC and FIEP are also anticipating to take part in the second round of financing and are going to invest their portion of contribution simultaneously with DowAksa.

Mehmet Ali Berkman, Chairman of Aksa Board and Deputy Chairman of DowAksa Board of Directors; Douglas Parks, a member of the DowAksa Board of Directors and Dow’s Global Business Director for Lightweight Materials and Governmental Markets; Anatoly Chubais, Rusnano CEO and Chairman of Executive Board; and Leonid Melamed, CEO of HCC, signed the agreement at the “Composites without Borders” conference, which was part of the Open Innovations Forum agenda in Moscow, taking place on October 31 – November 2, 2013. This document is another important milestone in the parties' cooperation, emphasizing the intentions outlined earlier in the 2013 MOU at the World Economic Forum in Davos.

Already today the Nanotechnology Center of Composites is a foundation for start-ups in production of polymer composite materials for the growing industrial sectors including construction, energy and automotive. By now, only one line has been launched in the Nanotechnology Center of Composites to produce polymer composite materials to be used in construction, energy, IT; the Сenter is also equipped with the high-tech scientific laboratory and one of its kind multi-axial machine. The 2nd production line is to be launched soon. The Center will showcase latest technologies of polymer composites processing in Russia.

About Nanotechnology Center of Composite (NCC):
LLC “NCC” is a joint venture of CJSC “Holding Company “Composite” and Fund for Infrastructure and Educational Programs “Rusnano”. “NCC” was established at the end of 2011 as an open engineering innovation center specialized on composites.

The main activities of the Center are: R&D projects; experimental design and process development works; pilot production; tests and certification of composite materials; promotion of manufacturing companies; providing services for small innovation companies (consulting, training, leasing of equipment, investments).

The Center primarily develops composite products for the construction, civil infrastructure, machinery and automotive industry. Production areas of the Center are located in Technopolis “Moskva” (former car factory “Moskvich”). Center is equipped with modern multifunctional machines for production and testing FRP products (GFRP, CFRP, basalt FRP, aramid based FRP). Production assets include: filament winding line; pultrusion line; extrusion line; clean room; automate cutting machine for fabrics and prepregs; hand and spray lay-up area; injection-molding machine; painting section and mechanical treatment section; metal workshop; mechanical tests laboratory; NDT laboratory; construction building laboratory.

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