French Saft opens unit in Moscow

Oct 25, 2013 - French high-tech battery maker Saft (EPA:SAFT) said today it had opened a subsidiary in Moscow, Russia, named OOO Saft, to develop sales, deliveries and technical support for its customers from Russia and the Commonwealth of Independent States (CIS).
Initially, the unit will focus on the market of railway transport, including underground networks, tramways, locomotives.
Later on, it plans to expand to other sectors, such as infrastructure, energy storage and telecommunications.
Saft reported sales of EUR 153.2 million (USD 211.5m) in the third quarter of 2013, up 15.7%.
The company targets for the full-year sales of some EUR 630 million and earnings before interest, tax, depreciation and amortisation (EBITDA) of up to EUR 95 million.
(EUR 1.0 = USD 1.382)

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