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General Motors Set to Ink Deal on Car Assembly Plant in Posted by JohnA [Email]  (#426)  [Profile/Gallery]
(more from JohnA) on Mon, 29 May 2006 06:37:59
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MOSCOW - General Motors, the world’s largest automaker, and the Russian economics ministry will sign Monday an agreement on the construction of a car assembly plant in Russia, the ministry’s press service said.
Under the agreement, the company will be able to import car assembly components to Russia under reduced import tariffs.
GM has been doing business in Russia since 1999 and sold 76,580 cars and light commercial vehicles in 2005. The company has 48 Cadillac, Saab, Hummer, Opel, and Chevrolet dealerships in 24 towns and cities across the country.
The U.S. giant also teamed up with Russia’s no.1 carmaker, AvtoVaz (RTS: AVAZ), to produce the Chevrolet Niva 4WD at a joint enterprise established in Russia in 2001 and invested $240 million in the project.
GM also assembles Chevrolets, Hummers and Cadillacs at a plant in Russia’s European exclave of Kaliningrad.
Source: RIAN.
, Mon, 29 May 2006 06:37:59 <-- Viewing This Message, Wed, 31 May 2006 23:10:45, Mon, 29 May 2006 11:56:56, Mon, 29 May 2006 11:52:41, Mon, 29 May 2006 06:38:27
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