Manuli Rubber Industries, an international group based in Italy and specializing in design, production and distribution of reinforced rubber for various industries, has launched a joint venture in Belarus with Belarusian Steel Works (BMZ) and the Legmash Plant, under the auspices of the Industry Ministry.
The plant, located in Orsha (Vitebsk Oblast), officially opened on 10 December 2014, will produce high-pressure hoses for agricultural machinery for sale both in Belarus and abroad. Over EUR 16.5 million has been invested in the enterprise, which will have a yearly manufacturing capacity of about 7.3 million metres of high-pressure hoses.
The Sorainen team provided full-scope legal support to the client, including drafting and negotiating the investment agreement with the Republic of Belarus, represented by the Industry Ministry, producing a set of ancillary agreements ensuring supply of raw materials and distribution of joint venture production, incorporation of the joint venture and shareholder agreements, plus advice on tax, customs and other matters. The Sorainen legal teams involved in the project were led by partners Maksim Salahub, Alexey Anischenko, and included senior associates Tatsiana Shyshkarova, Maria Rodich and associate Viktoryia Mikhnevich.