Siemens has acquired a 51% stake in Russian auto parts manufacturer Avtel, the German firm said on Tuesday.

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The value of the deal was not disclosed and is expected to be closed by early November.


Siemens FDO Automotive will own the stake, Siemens told the Prime-Tass news agency.


Kaluga-based Avtel produces engine control systems and made sales worth EUR35m in 2005.


Avtel will supply parts for Volkswagen Group’s Russian Skoda assembly plant, construction of which started last Saturday.

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