VGH AG sets up new subsidiary in Lipezk

Schwelm, 21st July 2008 –VGH Viktoria Garten Hüttenindustriebedarf AG based in Schwelm, Germany, has founded a new subsidiary in Lipezk, Russia, which commences operation with immediate effect. The founding of ZAO VGH Viktoria Garten Hüttenindustriebedarf reflects and will accommodate the strong growth of VGH AG’s business activities in this region.

The new VGH subsidiary in Lipezk will on the one hand contribute immensely to the increase in efficiency of VGH’s business in Russia. First and foremost that means the optimization of costs for logistics and transport. On the other hand, the subsidiary offers VGH new opportunities to export products out of Russian production.

Vadzim Pishykin, who, in May 2007, VGH won as Director of Sales and Business Development, has been appointed as Managing Director of the new subsidiary. Prior to VGH, Pishykin worked for the Byelorussian Steel Works in Zhlobin, Belarus, for 20 years, his last position being First Assistant General Director.
Medium-term, VGH is looking to expand the team at the Lipezk office to 30 employees.