The joint venture between RISECO and NOVARES is now officially in progress

The first agreement of a joint venture between RISECO Holding and NOVARES (previously Mecaplast) to produce automobile plastic parts through high-tech methods in Iran, was signed back in March 2017 along with the presence of Iran ambassador and authorities of Renault-Nissan and PSA. The agreement is one of the first steps for Iranian automobile part makers to join Renault-Nissan and PSA global chain of supply.

Now, after a year since the agreement got signed along with multiple legal and commercial sessions held between the two parties, the final contract of the joint venture got signed last March even though the political atmosphere of the country is not pleasant. The main difference between the joint venture and other international car part making contracts is the commitment of the French party to share and open its global market to export 30 percent of the joint venture’s productions.

RISECO-NOVARES joint venture is to start production in the first half of this year, providing Renault Pars, IKCO and SAIPA with engine plastic parts from the production site located in Safadasht Industrial zone in Tehran. The joint venture is going to involve 300 employees directly in the first phase within two years.

NOVARES took over the full share of Key Plastic Corp. in mid-2017 and changed name from Mecaplast to Novares. The company is a world class car part maker, produces engine, exterior and interior plastic trim parts with high-tech methods. Novares owns more than 42 production sites and 12 R&D centers in 21 countries in the world and is the major part provider for companies such as VW, PSA, Renault-Nissan, Toyota and so on.