RUSSIAN + CIS NEWS AutoVAZ sells wheel business The largest Russian automaker AutoVAZ sold 100% of its wheel business to the German Group Mefro wheels.
realisation of the transaction. Permission from the Russian FAS (competition body) was received by the buyer in 2011”, AutoVAZ stated. Adding: “All the employees of the wheel production will continue to work for Mefro Wheel Russia Tolyatti Plant”. Earlier, KAMAZ had made a similar sale of production assets in Tatarstan. Both concerns are restructuring assets and optimising
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business processes. Wheel web production is not seen as a core competence for the auto business. “The sale provided AutoVAZ with the necessary funds for modernisation of its production facilities, while Mefro wheel will bring new technologies and their experience to the purchased enterprise,” comments Kirill Markin, analyst at Investcafe.
Renault-Nissan agrees controlling stake in AutoVAZ
The Renault-Nissan Alliance announced the successful coordination of the parameters of the transaction that will make it controlling shareholder of AutoVAZ.
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inal completion of the transaction is planned by early March this year. “The principal issues between the shareholders are solved, and the agreement can be signed in the near future,” announced Igor Komarov,
president of AutoVAZ. The Troyka-Dialog Company will relinquish its capital holding and its whole block of shares will pass to Renault-Nissan. The transaction will be non-recurrent, but Renault-Nissan
will have an opportunity to pay for the stake by installments. The value of the transaction has not been announced yet, but earlier the Alliance bought 25% of shares for US$1 billion. According to experts, the current share price will not be less, though hardly more than the previous one.
Automotive industry
results in 2011 The director of the Department of Automobile Industry and Agricultural Machine Building of the Ministry of Industry and Trade of the Russian Federation, Alexey Rakhmanov, announced the results of development in the automobile industry during 2011.
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items including, fasteners, hand tools, chemicals and protection wear. Last year, Würth sales of construction and renovation products in Russia increased by more than 20 percent - valued at more than 300 billion rubles. North-West accounted for about 10 percent (30 billion rubles), and St. Petersburg about 4 percent (about 12 billion rubles). “During the year the construction and repair work market increased by 30 percent,” commented Alain Tropnikova, owner of RAC
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Repair and Construction Company. “The market is reviving after the crisis. Volume of orders in 2011 compared to the crisis in 2010 have grown by 3 - 5 times,”
observed RAC commercial director, Alexander Chistyakov. Other companies said the market was very competitive; with a growing number of companies as well as projects under construction. St. Petersburg is reported to have more than twenty building trade networks, all actively developing.
Fastener + Fixing Magazine • Issue 74 March 2012
ccording to Alexey Rakhmanov, 2011 was success for the automobile market. “A record 2.8 million vehicles were sold in the country. The sales on the primary market grew by nearly 40% during the year. Russians
spent about US$58 billion dollars, which is 70% more than in 2010.” The director also said these results reflected consumer and market participants response to government programmes encouraging supply and demand.
Würth to triple St. Petersburg store numbers
Within two years Würth North-West will triple its store numbers in St. Petersburg, the Russian Hardware Association Rosmetiz reports.
ürth North-West CEO Galina Vasilyeva, reported that the company now has six stores in St. Petersburg and the same in major regional centres around the North-West. Within two years the company plans to increase the number of outlets in St. Petersburg, by 20 to 25 and to open another 10 stores in the region. The investment cost was not disclosed but experts ARIN say it is around US$2 million for each store with a standard product programme of around one thousand
he value of the transaction has not been disclosed. “As part of the development programme and continued restructuring of the company, on 20th
January 2012, AutoVAZ completed the sale of its operating business for production of stamp-welded
wheels to the German Group Mefro wheels. In accordance with the agreement, the German party bought through its Russian holding company Mefro wheels Russia 100% of the shares of Mefro wheels Russia Tolyatti, founded by AutoVAZ for the
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