As Poslovni Dnevnik/Darko Bicak writes, the most important Croatian player in the production of auto parts, AD Plastik Group, has contracted new deals with the Stellantis Group for the European market, with expected revenues of 85.9 million euros over the projected duration of the project, which is nine years.
Stellantis NV is a multinational car manufacturing corporation founded only in 2021 based on a cross-border merger in a 50-50 ratio between the Italian-American conglomerate Fiat Chrysler Automobiles (FCA) and the French PSA Group. The company is headquartered in Amsterdam, and last year they reported operating income of 15.3 billion euros.
Stellantis’ core business is the design, development, production and sales of cars from its sixteen brands: Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS, Fiat, Fiat Professional, Jeep, Lancia, Maserati, Mopar, Opel, Peugeot, Ram and Vauxhall.
At the time of the merger, Stellantis had approximately 300,000 employees and a presence in more than 130 countries with production facilities in 30 countries. This is a significant step forward for the Croatian company AD Plastik, which has faced challenges due to the war in Ukraine and the consequent EU sanctions against Russia.
Namely, the company based in Solin, Russia, has two factories, where it generated as much as 27% of its total revenue. Back in 2021, the Group generated more than 305 million kuna in revenue in Russia. There is no forecast for 2022 owing to the ongoing dire situation in Ukraine following Russian invasion in February this year.
Their main customers on the Russian market were Renault and Volkswagen, which hold half of the market there. Both companies suspended operations in Russia, a move which was also reflected within the Croatian company AD Plastik.
Marinko Dosen, President of the Management Board of AD Plastik, recently pointed out that the shutdowns are temporary, but also that it’s difficult to predict the final impact on their business in the Russian market, and that AD Plastik’s Russian factories are ready to continue production.
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