IBJNews

Local manufacturer tapped for trade mission to Russia

Back to TopCommentsE-mailPrintBookmark and Share

An Indianapolis manufacturer hopes to land more business in Russia, where a growing middle class and new financing options are fueling the automotive market.

Hoosier Gasket Corp. was recently selected to join a U.S. Commerce Department trade mission to Russia in April. It will be the only Indiana company in the delegation of about a dozen automotive firms.

“The purpose of this mission is to broaden and deepen ties that already exist,” said Oleg Gostomelsky, vice president of east European business development for Hoosier Gasket.

Hoosier Gasket already supplies the Gorky Automotive Plant, or GAZ, one of the two largest carmakers in Russia, as well as a joint venture between Columbus-based Cummins Inc. and Kama Automobile Plant, or KAMAZ, a major heavy-truck manufacturer in Russia.

That existing business put Hoosier Gasket on the radar of the Commerce Department’s automotive-sector team in Washington, D.C., said Mark Cooper, director of the agency’s office in Indiana.

“They’re a good client of our office. We’ve known them for years,” Cooper said.

Cooper noted that the office exists to help Indiana companies develop foreign business, and he’s recruiting aerospace firms for a trip to Turkey. "We'd love to do this for all kinds of companies," he said.

Though China draws a lot of attention as an emerging economy, automakers and suppliers are flocking to Russia, as well, Gostomelsky said. A recent PricewaterhouseCoopers study ranked the Russian auto market as the world’s fourth-largest, on par with Germany's, he noted.

A major factor in that growth is that in the past six years, banks began making loans for car purchases, Gostomelsky said. Previously, Russian consumers had to pay for cars in cash. It comes as no surprise, then, that the average age of cars on the road in Russia is 10 years.

Hoosier Gasket also sees opportunity in the heavy-duty vehicle market because so much of the country lacks a well-developed road network, Gostomelsky said.

Hoosier Gasket is already making plans to manufacture its products for heavy-duty engines in Russia next year. Currently, the company supplies the parts for assembly kits, which are exported.

The company operates from a 135,000-square-foot facility in Keystone Enterprise Park on the near-east side of the city and has about 135 employees.

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. They can always get jobs at the Post office.

  2. Hello i am Clarisa Steve from Florida USA,when i was in need of a loan of $230,000 to transit a business my friend introduced Mark Oscar loan firm to me because she got a loan from them sometime ago, so I was so scared because of the scams in the internet but my friend encouraged me to give them a try and i gave them a try and i got my loan within 4hrs and their ways was very easy no credit check,no cosigner,no collateral and their interest rate is just 2%, so i will advice anyone out there that need a loan to contact them via their Email:(oscarloanfinance@hotmail.com).

  3. "This was a very localized, Indiana issue," he said. As in, Indiana failed to expand Medicaid to cover its poor citizens resulting in the loss of essential medical services, including this EMS company. Well done, Indiana GOP. Here are the real death panels: GOP state governments who refuse to expand Medicaid for political reasons.

  4. In the "one for all, all for none" socialist doctrine the sick die...this plus obama"care" equates to caucasian genocide plus pushed flight to cities thus further eroding the conservative base and the continualed spiral toward complete liberal/progressive/marxist America.

  5. There is a simple reason why WISH is not reporting on this story. LIN has others stations in different markets that are affiliated with CBS. Reporting about CBS blindsiding WISH/LIN due to CBS's greed and bullying tatics would risk any future negoations LIN will have with CBS in other markets.

ADVERTISEMENT