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April 29, 2010

RUSSIA: Kamaz returns to full production week

As the market continues to improve, Russian truck maker Kamaz has said that it has returned to a full working week.

As the market continues to improve, Russian truck maker Kamaz has said it has returned to a full working week.

The company suspended production altogether several times last year due to uncertainties in demand and has been operating a reduced week for many months.

Late last year it was forced to go to Volgo-Vyatsky Bank, a subsidiary of Russian state-controlled Sberbank, for a RUB4.3bn credit line. Kamaz used the funds to finance its production operations.

However, in December Russia’s largest truckmaker said it has seen a gradual improvement in sales over 2009 and expects 10-15% growth in 2010.

Head of marketing and advertising Ashot Arutyunyan said in December that the company, 10% owned by Daimler, was seeing monthly sales about 25% below pre-crisis levels of 4,000 trucks a month, but this is up from around 1,000 a month in November last year.

He said: “2010 will be very hard. I’m waiting for 10%, maybe 15%, growth in the truck market in Russia.”

He added that 2011 should be better, with market growth of around 30%.

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