Putin says Russia’s Kamaz, Belarus’ MAZ plan to merge assets

MINSK, Mar 16 (PRIME-TASS) -- Russian truck producer Kamaz and Belarusian truck maker MAZ plan to merge their assets, Russian Prime Minister Vladimir Putin said late Tuesday.

“We have a number of interesting investment projects. I’ll mention one of them – the merger of assets of the largest automotive producers Kamaz and MAZ,” Putin said.

The creation of such a strategic alliance is expected to increase the competitiveness of both companies and create well-paid jobs, Putin said.

At present, state-owned industrial conglomerate Rostekhnologii owns 49.9% in Kamaz, investment company Troika Dialog owns 27.0%, German automaker Daimler holds 11.0%, and the European Bank for Reconstruction and Development has 4.0%.

MAZ, or the Minsk Automobile Plant, is 100% owned by the Belarusian government.


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