ArTek Composites key expertise includes computer simulations, developing fiber-reinforced composites (including natural fibers), and building business cases for companies to use composite materials in their own lines of business. In particular, the new company will be able to advise manufacturers that produce items made from traditional materials to switch to new composite materials and launch new composite products. ArTek Composites will also provide services related to actual development of composite materials and design and manufacturing of any final product. Such services are predominately required in automobile manufacturing and construction industries. ArTek Composites is also considering a potentially new line of business in consumer goods made from natural composite materials.
The total budget of the Ulyanovsk Region allocated for the engineering center is approximately 120 million rubles, which includes co-financing from the Fund for Infrastructure and Educational Programs in the amount of 90 million rubles.
The project to create the engineering center in the Ulyanovsk Region was selected in July of 2013 as a result of the third open competition for the creation of high-tech engineering companies held by the Fund for Infrastructure and Educational Programs.