Manufacturing

GAZ Group, the largest Russian manufacturer of commercial vehicles, has summed up 2010 results according to the International Financial Reporting Standards. The company finished the year with net profit raising the revenue by 47%, increased sales volumes in all segments and retained leadership of the Russian commercial vehicles market.

Nizhny Novgorod, 14 June, 2011 - Today VOLKSWAGEN Group Rus and GAZ Group, part of Oleg Deripaska's ‘Basic Element', have come to an agreement on contract manufacturing of Volkswagen and Škoda cars at GAZ plant in Nizhny Novgorod.

Tver, Russia. 30 May 2011. - Russian Machines, the leading machine-building holding in Russia, and Fritzmeier, the largest manufacturer of cabins for construction equipment and agricultural machinery in the world, have signed a Memorandum of Understanding to create a JV in Russia specializing in production of cabins for construction and road-building equipment. The investments in the new production will be more than $50 million.

GAZ Group and BOSAL, one of the leading international manufacturers of emission control systems, have signed an agreement to establish a joint venture at Gorky Automobile Plant.