Heavy vehicle producer KAMAZ could be united with Belorussian MAZ.

By bne IntelliNews February 17, 2011
Russia and Belarus could create a joint venture of two heavy vehicle producers KAMAZ and MAZ, first deputy PM of Belarus Vladimir Semashko announced. He noted that this would mean transferring up to 49% of the shares in MAZ on parity conditions to the joint venture. Earlier this week, head of Russian technology agency RosTekhnologii Sergey Chemezov announced that agency is ready to propose a minority stake in KAMAZ in exchange for full ownership in MAZ. Currently German carmaker Daimler holds a 11% stake in KAMAZ, other major shareholders being stage agency RosTekhnologii (49.9%), Troyka Dialog (27%), EBRD (4%) and KAMAZ International Management (4.25%). KAMAZ reported a net loss under RAS of RUB 599mn in Jan-Sep 2010 vs. net loss of RUB 4.32bn for the same period of last year. In Q3/10 alone, KAMAZ posted net loss of RUB 474mn vs. net profit of RUB 12.1mn seen in Q2/10, which was attributed to lower core earnings and rouble depreciation. As reported previously, KAMAZ reported a net loss under RAS of RUB 4.17bn in 2009 vs. net profit of RUB 2.81bn in 2008.

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