FRITEX

History

2024: Plant handover to NAMI

In August 2024, it became known that the Yaroslavl Friction and Heat-Resistant Materials Plant (Fritex) will be transferred to the management of the Federal State Unitary Enterprise Central Research Automobile and Motor Institute (FSUE NAMI). The corresponding decree was signed by Russian President Vladimir Putin on August 22, 2024.

According to the document, FSUE NAMI will receive 63,880 Fritex shares, which is 99.6% of the authorized capital of the enterprise. Measures for the transfer of shares must be carried out within six months.

According to Interfax, earlier the Volga City Court satisfied the claim of the General Prosecutor's Office of Russia to recover Friction and Heat-Resistant Materials Plant JSC and a number of other enterprises from the state. The decision was made due to the fact that the property belonged to "members of the extremist association," natives of Ukraine Konstantin Efimenko and Elizaveta Andreeva.

Fritex is a major manufacturer of polymer composite and sealing materials and products. The company develops and manufactures components for various components and systems of vehicles, supplying products to automobile assembly enterprises and motor plants.

FSUE NAMI, subordinate to the Ministry of Industry and Trade, has become a major center for the consolidation of the assets of the automotive industry after the departure of foreign manufacturers of cars and components from Russia. The Institute, in particular, implements the project of the Russian luxury car Aurus.

In addition to the Yaroslavl Fritex, NAMI will also transfer shares of the Ural Auto-Textile Materials Plant (UralATI) in the Sverdlovsk Region. The company will receive 2,155,785 shares of UralATI, which is 96.7% of the authorized capital.^[1]

Notes