Iskra Avtoelektrika Opening Factory in Russia

Iskra Avtoelektrika, the Sempeter pri Gorici-based maker of electronic components for the car industry, opened on Thursday a new factory in Rzhev, Russia. The Pramo Iskra venture company has a share capital of US$ 200,000 and will manufacture starters for cars, mainly for the Russian market.

Pramo Iskra, which will initially employ 60 workers, is part of Iskra Avtoelektrika's efforts to increase its presence on the Russian market. The company plans to hold a 20% market share by the end of this year.
The factory's annual output will max out at 250,000 starters, with sales revenues projected at US$ 5m in 2007. The company expects to gradually increase production and projects sales revenues of US$ 8m in 2009.

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