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March 16, 2010

RUSSIA: Partsmaker eyes big 2010 revenue boost

Vladimir-based Russian auto partsmaker Avtopribor plans to more than double its revenue to RUB2.5bn (US$85m)in 2010 from RUB1bn rubles in 2009, Vladimir Piskunov, the company’s director for economy and finances, told Prime-Tass on Tuesday.

Vladimir-based Russian auto partsmaker Avtopribor plans to more than double its revenue to RUB2.5bn (US$85m)in 2010 from RUB1bn rubles in 2009, Vladimir Piskunov, the company’s director for economy and finances, told Prime-Tass on Tuesday.

The company plans to reach a production level last seen in 2008 this year, which would allow it to avoid losses over the year, Piskunov added. In 2009, Avtopribor posted a net loss of about RUB300m compared with a net profit of EUB2m in 2008.

Avtopribor plans to start supplying components for all types of vehicles produced by GAZ Group this year as well as shipments to truckmaker Kamaz , Ford’s Russian assembly plant and the Ulyanovsk Automobile Plant (UAZ ). The company also plans to start supplying Volkswagen’s plant in the city of Kaluga – where CKD assembly recently replaced SKD operations – and the recently expanded, Renault-controlled Avtoframos facility in Moscow.

Avtopribor expects to receive RUB200m of federal subsidies in 2010, down from RUB350m reported earlier, and will also get RUB40m from the government to provide alternative employment and training to its workers.

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