AFL-Interiors

Performance indicators

In 2023, the revenue of AFT-Interiors JSC amounted to 2.3 billion rubles, which is 66.3% more than a year earlier. The company's net profit during this time doubled and reached 426.5 million rubles.

History

2024: "Autocomponent Group" bought 70% of JSC "AFT-Interiors"

Nizhny Novgorod "Autocomponent Group" buys out the manufacturer of auto parts "AFT-Interiors," which previously belonged to the French Faurecia. The decision on this transaction in early May 2024 was published on the website of the Federal Antimonopoly Service (FAS).

The regulator allowed Avtokomponent Group JSC to acquire 70% of AFT-Interiors JSC. The financial terms of the agreement were not disclosed by May 7, 2024.

Unsplash

AFT-Interiors JSC previously supplied instrument and door panels, as well as central consoles to manufacturers Renault, Nissan, AvtoVAZ and UAZ. After the departure of foreign manufacturers in 2022 and a decrease in demand, the site suspended work and cooperation with UAZ froze.

"AFT-Interiors" operates a site in Togliatti. Previously, the company was called "Foresia Interior Togliatti" and until 2024 was one of the three assets of Faurecia in, Russia notes Kommersant"." According to the sources of the publication, the condition of the deal to exit Faurecia from the Russian business was the possibility of a buyback. Lawyer, partner of the Smolenka 33 Bar Association Elena Mende notes that the seller can, in agreement with the buyer to whom the offer was issued, in this case Faurecia, change the side of the option agreement. Even if the shares are transferred to Avtokomponent Group, a foreign company may retain the right to demand the transfer of shares to it, the expert explained.

According to automotive analyst Vladimir Bespalov, Russia is undergoing an active import substitution process by 2024, so the demand for localized products should be high. If AFT-Interiors products meet in quality, orders from AvtoVAZ will load the plant with work, he added in a conversation with the publication.^[1]

Notes