Kamaz has signed an agreement to restructure some 276 million roubles of debt to a steel supplier.

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As part of the deal, Kamaz has this week repaid debts to the Zlatoustovsky Metallurgical Plant (ZMZ) worth 32 million roubles, according to local government sources.


Kamaz has already repaid 60 million roubles worth of debts to the plant since the two companies started the debt restructuring talks.


Kamaz is also ready to supply 500 tonnes of ferrous scrap metal per month to the plant as a means of repaying its debt. The truck manufacturer also plans to place new orders for metal products from ZMZ in September.


Production was suspended on the company’s main assembly line after Kamaz fulfilled its orders for the month of June.

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The company has suspended production several times this year due to a decline in demand for trucks in Russia’s recession-hit economy.