By early 2019, Ruselectronics, a holding company, will deploy the first production facility in Russia based on South Korean technology for manufacturing medical needles. The production will be established at the premises of an existing regional defense industry plant.
The technology transfer contract was concluded between C&M-TECH, a South Korean manufacturer of medical devices, and EMC of VEGA Corporation JSC, a part of Ruselectronics holding company.
The investments in the project will amount to 700 million rubles. These funds will be contributed to the authorized capital of established joint venture, the founders of which will be EMC of VEGA Corporation and a major Russian bank.
The newly established production facility will manufacture all types of medical needles, including infusion, transfusion, puncture biopsy, surgical, ligature, and handling needles. The production capacity will be 1.5 billion needles a year. A representative of the holding company said that this amount will be sufficient to provide the Russian-made medical needles not only to Russian consumers, but also to consumers in all EAEU member states.