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.

Related Articles

Russias participation in Cyprus bail-out under question.

As Cyprus is trying to come up with new ways to raise EUR 5.8bn needed to secure the financing from ECB, EC, and IMF, Russia's participation in the package is not clear. According to the latest ... more

Fitch: Russian banks risks in Cyprus limited.

Fitch Ratings believes that resolution of the Cyprus crisis with a deposit levy or some other form of burden sharing involving creditors is unlikely to result in material losses for Russian ... more

Sources: Russia could triple oil exports to China.

Russia and China discuss contracts that would triple exports of Siberian oil through various transport corridors, Reuters reports citing unnamed sources in the industry. Rosneft is discussing ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335