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Archives for June 22, 2017

Daimler lays foundation stone for $280 million Mercedes-Benz plant in Russia

June 22, 2017 by Sam Francis

Bense, von Fritsch, Schaefer, Manturov, Ruess and Vorobyov attend a new Mercedes-Benz plant's cornerstone laying ceremony in the town of Esipovo outside Moscow
Bense, von Fritsch, Schaefer, Manturov, Ruess and Vorobyov attend a new Mercedes-Benz plant's cornerstone laying ceremony in the town of Esipovo outside Moscow
Mercedes-Benz Manufacturing Rus CEO Axel Bense, Germany’s Ambassador to Russia Ruediger von Fritsch, member of the divisional board of Mercedes-Benz Cars Markus Schaefer, Russian Industry and Trade Minister Denis Manturov, head of production planning of Mercedes-Benz Cars Rainer Ruess and Moscow Regional Governor Andrei Vorobyov attend a new Mercedes-Benz plant’s cornerstone laying ceremony in the town of Esipovo outside Moscow, Russia earlier this week. Reuters / Tatyana Makeyeva

By Jack Stubbs, Reuters

Daimler began construction of a new Mercedes-Benz plant near Moscow this week, following through on the first new investment by a major foreign automaker in Russia since Western sanctions were imposed three years ago.

Daimler said in February that it will invest more than $280 million in the factory, contrasting with widespread wariness among international investors after a prolonged downturn brought on by sanctions and a collapse in global oil prices.

But Russia’s economy has recently shown signs of recovery, while its car market is returning to growth after four years of decline.  [Read more…] about Daimler lays foundation stone for $280 million Mercedes-Benz plant in Russia

Filed Under: Industry, Manufacturing, News, Transportation Tagged With: automaker, car, cars, construction, daimler, factory, manufacturers, mercedes, mercedes-benz, moscow, motors, russia, russian

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