RUSNANO and Sumitomo Electric Hold a Meeting
OREANDA-NEWS. As a part of a business trip to Japan, RUSNANO delegation headed by Anatoly Chubais, Chairman of the Executive Board, participated in a meeting with the management of Sumitomo Electric and visited one of the world’s largest optic fiber plant owned by the Japanese company.
Within the meeting the key elements of the road map for cooperation between Optic Fiber Systems, a portfolio company of RUSNANO, and Sumitomo Electric were defined. It was mentioned that the development of mutually beneficial relationship will involve the performance optimization for Optic Fiber Systems’ production lines with the aim to improve quality and increase production volume. Sumitomo Electric is determined to provide expert assistance to the facility in reaching its project capacity and advise the management on implementation of best practices. RUSNANO considers this cooperation to be an opportunity for Optic Fiber Systems to offer a competitive product to the Russian cable market.
The participants confirmed their intention to begin a feasibility study regarding the construction of the Optic Fiber Systems’ second start-up complex for in-house production of preforms that are the main raw material for optic fiber production. The parties to the meeting did not rule out the possibility of a joint venture in 2016.
The companies also discussed long-term goals and cooperation opportunities within other Sumitomo Electric’s spheres of competence such as electronic information transmission systems, storage area networks, intercity and long distance communication services.
Following the meeting in Tokyo, a memorandum on cooperation with project development road map will be signed by the companies.
Sumitomo Electric was founded in 1897. Today it is the world’s second largest producer of optic fiber.
Sumitomo Electric Europe supplies preforms for optic fiber production to Optic Fiber Systems, a portfolio company of RUSNANO. On September 25, 2015, the management representatives of Sumitomo Electric Europe attended the opening ceremony of Optic Fiber Systems in Saransk.
RUSNANO was founded as an open joint stock company in March 2011, through reorganization of state corporation Russian Corporation of Nanotechnologies. RUSNANO is instrumental in realizing government policies for nanoindustry growth, investing in financially effective high-technology projects that guarantee the development of new manufacturing within the Russian Federation. The company invests in nanotechnology companies directly and through investment funds. Its primary investment focus is in electronics, optoelectronics and telecommunications, healthcare and biotechnology, metallurgy and metalwork, energy, mechanical engineering and instrument making, construction and industrial materials, and chemicals and petrochemicals. The Government of the Russian Federation owns 100 percent of the shares in RUSNANO.
Work to establish nanotechnology infrastructure and carry out educational programs is fulfilled by RUSNANO’s Fund for Infrastructure and Educational Programs, which was also established during the reorganization of the Russian Corporation of Nanotechnologies.
Management of the investment assets of RUSNANO are carried out by a limited liability company established in December 2013, RUSNANO Asset Management. Anatoly Chubais is chairman of its Executive Board.