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Automotive: Key Russian manufacturers in new holding

September 08/2009
September, 08 (plasteurope) -- Major state-owned auto conglomerate Russian Technologies reportedly plans to establish a holding to manage the country’s three leading car manufacturers. The new company, called Rosavto, would pool car maker Avtovaz, truck maker Kamaz and engine builder Avtodizel, with several small subcontractors. Russian Technologies owns shares in all three ailing manufacturers – 37.8% of Kamaz, 25% of Avtovaz and 30% of Avtodizel.

It is unclear how the move will affect foreign shareholders, specifically Germany’s Daimler, which owns 10% of Kamaz, and France’s Renault, which owns 25% of Avtovaz.

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