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05.05.2016

EXIAR supports exports of Russian tire rims

The Russian Agency for Export Credit and Investment Insurance (EXIAR – a part of the Russian Export Center Group) and SMW Engineering have concluded a one-year insurance policy for short-term credit.

The agreement will insure shipments of forged wheel blanks and ready-made tire rims for cars and motorcycles to countries of the European Union (Italy, Germany and Latvia) and Canada.

EXIAR is insuring exports totaling 4.1 million euros under this deal.

The Russian Agency for Export Credit and Investment Insurance (EXIAR) was established in 2011. EXIAR's mission is to support Russian hi-tech exports and investments abroad by insuring export credits against commercial and political risks. The Russian Export Center is EXIAR’s sole shareholder. The agency's charter capital is RUB 43.5 billion. The State Specialized Russian Export-Import Bank (Eximbank of Russia) is a subsidiary of EXIAR.

SMW Engineering (SMWE) was established in Russia in 1996, with a focus on metallurgical engineering. Until 2004 SMWE was affiliated with the Russian Institute of Titanium and Magnesium (RITM) and also with Solikamsk Magnesium Works, which produces of magnesium and its alloys, titanium sponge, chemical and rare-earth products. Today, SMWE is a world leader in the production of large forged products made of magnesium alloys, as well as leads a number of innovative developments in the field of additive technologies.