Owner is “Art-Finance”
The Russian company «Art-Finance», which owns the former Volkswagen plant in Russia, has closed the deal to acquire the Hyundai plant in St. Petersburg.
«Art-Finance», which is the parent company of «AGR» LLC, closed the transaction this week, January 24, 2024, and became the new owner of the LLC's assets «Hyundai Motor Manufacturing Rus» in full.
Assets «Hyundai Motor Manufacturing Rus» include two production sites located in St. Petersburg. This is a plant in the Kamenka industrial zone and a plant in the Shushary industrial zone, which previously belonged to GM.
After closing the transaction, LLC «Hyundai Motor Manufacturing Rus» became part of the AGR Group, like the Russian assets of Volkswagen last year. It is already known that the plant will be renamed and restarted:
«Group „AGR“ intends to actively develop production in order to supply Russian customers with reliable, affordable and comfortable cars. Today we face many important tasks, but still the main — this is to preserve work teams, as well as ensure worthy use of their professional skills and competencies», — said Alexey Kalitsev, who was recently appointed as General Director of AGR LLC.
Previously it became known how Kia and Hyundai could return to Russia.