RUSNANO reorganizes Plastic Logic

    The Board of Directors of RUSNANO Management Company, according to Vedomosti , intends to reorganize the manufacturer of flexible screens, the company Plastic Logic. The company is currently headquartered in Ireland. Rusnano plans to divide the company into two parts: production and research. The production unit will be operated by Plastic Logic Germany, in Dresden. The second is in Britain, based on Flexenable. Control over both companies will be carried out by Rusnano.

    It is worth noting that the history of the interaction between Rusnano and Plastic Logics is quite a long one. So, in 2011, Rusnano became a co-owner of Plastic Logic Holding. Then the company was developing a project of readers with flexible monochrome displays, and the leadership of the domestic structure decided to start production of such readers in Zelenograd. Several billion rubles were invested in Plastic Logic Holding, while Rusnano invested 7.13 billion rubles.

    The start of production of readers with flexible displays was planned for 2013-2014, and in 2015 the company was to become profitable. Nevertheless, already in 2012, Plastic Logic decided to change its strategy, and start production of non-readers, and plastic flexible displays and some other components. A year later, Rusnano announced a reservation of about 40% of the initial investment for impairment.

    Now Rusnano plans to increase its stake in Plastic Logic Germany, and in Flexenable - up to 80%.

    According to Yury Udaltsov, Deputy Chairman of the Board of RUSNANO Management Company (the main owner of Plastic Logic), this year the Dresden factory will receive revenue: the company already has commercial orders. The main focus of the company is the creation of displays for various devices, including telephones, readers, luggage tags, electronic decals, information boards and signs.

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