Palfinger and OJSC Kamaz found two joint ventures in Russia
Palfinger and OJSC Kamaz manufacture the same kind of things, namely truck bodies as well as cylinders for cranes, trucks and construction machinery
Both publicly listed companies, Palfinger AG and OJSC Kamaz have agreed to establish two joint ventures in Russia. The start-up companies will be called Mounting and Cylinder.
49% of the joint venture called Mounting specialising in truck bodies, with its registered office in Naberezhnye Chelny in Tatarstan, will be owned by the Palfinger Group and 51% by the Kamaz Group. This company will fit trucks with loading and handling equipment. More than 3,000 of these truck assemblies are expected to be delivered annually by 2019. In addition to Kamaz’s existing dealership networks, the joint venture is expected to build up its own network of dealerships and service centers.
51% of the joint venture called Cylinder will be held by Palfinger. The Austrian company will acquire this shareholding in Kamaz’s existing cylinder production company in Neftekamsk in the Bashkortostan region and will invest in modernising plant. Up to 80,000 cylinders for cranes, trucks and construction machinery are expected to be manufactured there by 2019.
Herbert Ortner, CEO of the Palfinger Group, believes the founding of both joint ventures is „a very important step in safeguarding and expanding our business in the CIS“. He considers this region to be a very important market already. This is why Palfinger would like to expand local production and thereby improve the value added locally. Kamaz would be a flexible and performance-orientated partner in this undertaking.
Kamaz is Russia’s largest truck producer and is ranked 11th among the world’s top manufacturers. The trucks are produced for the Russian domestic market and some are also exported to Asia and Latin America.
www.palfinger.com/de/aut
Quelle: LogEastics
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