Key Developments: Avtovaz OAO (AVAZ.MM)

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Latest Key Developments (Source: Significant Developments)

Avtovaz OAO increases 2015 car production plan - Interfax
Thursday, 19 Feb 2015 01:37am EST 

Avtovaz OAO:Increases 2015 production plan to 712,000 cars - Interfax cites company's press office, quoting President, Bo Andersson Avtovaz.Car production in 2014 was 511,894 cars, thus the company plans a 39 pct increase in 2015 - Interfax.  Full Article

Avtovaz OAO to widen range of automobile models made in Chechnya-Interfax
Tuesday, 13 Jan 2015 07:58am EST 

Avtovaz OAO:Avtovaz to increase car production in Chechnya-Interfax news agency cites Russia's Industry and Trade Minister Denis Manturov as saying.To widen range of automobile models made in Chechnya, Interfax cites Manturov.  Full Article

Renault SA, Nissan Motor Co Ltd and Avtovaz OAO to create new purchasing organization in Russia
Sunday, 14 Dec 2014 07:00pm EST 

Renault SA:Says that Renault, Nissan Motor Co and Avtovaz will merge their purchasing activities in Russia, effective Jan. 2015.New AVTOVAZ-RENAULT-NISSAN Purchasing Organization (ARNPO) will manage purchasing activities of all three partners in Russia.ARNPO replaces Common Purchasing Organization established by three partners in 2013.  Full Article

Avtovaz OAO signs appendix to credit agreement with VEB
Tuesday, 2 Dec 2014 06:53am EST 

Avtovaz OAO:Says signs appendix to credit agreement with Vneshekonombank (VEB).Says following signing of appendix total value of credit agreement is 45.14 billion roubles.Says credit with VEB is to be repaid within 120 months from date of agreement.  Full Article

Avtovaz OAO acquires Volzhskiy machinostroitel'nyi zavod OOO
Sunday, 23 Nov 2014 07:00pm EST 

Avtovaz OAO:Says Volzhskiy machinostroitel'nyi zavod OOO (VMZ) has become a 100 pct subsidiary company of Avtovaz OAO.VMZ participates in LADA Vesta pre-production, producing moulds for interior parts.  Full Article

Avtovaz OAO recalls about 14,600 Lada Granta cars-Interfax
Friday, 21 Nov 2014 03:34am EST 

Avtovaz OAO:Avtovaz OAO recalls more than 14,600 Lada Granta cars - Interfax cites statement on Federal Agency on Technical Regulating and Metrology (Rosstandart) website.The recall is due to problems with the braking system.  Full Article

Avtovaz OAO and Bipek Auto set up joint venture to distribute Ladas in Siberia-Interfax
Wednesday, 1 Oct 2014 08:13am EDT 

Avtovaz OAO:Avtovaz OAO and Kazakh group of companies Bipek Auto - Asia Auto have agreed to work together on the Siberian market, the Kazakh company said in a press release-Interfax.The partners will join forces for distribution, retail sales and after-sales services for Lada cars in the Siberian Federal District.A joint venture will be set up with Bipek Auto - Asia Auto owning 75pct and Avtovaz - 25pct.Initially the Kazakh company will take responsibility for organizing sales and maintenance of the Lada cars produced by Avtovaz in Russia.After the launch of the full-cycle car plant being built in Kazakhstan's Ust-Kamenogorsk, Bipek Auto - Asia Auto will supply Siberian residents with Kazakh produced Ladas.The agreement provides for vertical integration of manufacturing car parts and cars in Kazakhstan and their sale and maintenance in Russia.  Full Article

Egypt invites Avtovaz OAO to launch joint projects-RIA Novosti
Monday, 15 Sep 2014 08:00pm EDT 

Avtovaz OAO:The Egyptian government has proposed that Russian automobile manufacturer AvtoVAZ launch joint projects with local state holding Nasr, Egyptian Industry Minister Munir Fakhri Abdel Nour said during his visit to Moscow-RIA Novosti.According to the minister, Cairo is seeking to begin full automobile production, not just "organizations of industrial assembly of cars," newspapers Kommersant and Vedomosti reported.The return of AvtoVAZ to the Egyptian market also gives Nasr a chance for its revival.Egypt has already allocated a platform for the Russian company near the Suez Canal.Nasr is a state-owned automobile company founded in 1960 that has been producing licensed versions of Fiat vehicles.AvtoVAZ cars have been produced in Egypt before.In 2006 the Lada-Egypt manufacturing plant was established in Cairo uptown, producing the Lada 2110, 2105 and 2107.Two years ago Egypt sought to launch joint manufacturing operations with Russian companies, but these plans were shelved due to the political crisis in Egypt, according to Kommersant.Lada's production in the country was also suspended.  Full Article

Avtovaz OAO does not plan to reduce personnel-Interfax
Monday, 1 Sep 2014 10:03pm EDT 

Avtovaz OAO:Avtovaz does not plan layoffs and the number of employees will decline naturally-Interfax.According to the company's statement, if Avtovaz stops hiring 20,000 to 25,000 employees will leave the company naturally by 2020.Every year from 6,000 to 7,000 employees leave the company due to natural events, such as retirement, termination of employment contracts, and resignations, the company said.Earlier media reported that Avtovaz intends to reduce the number of employees to 30,000 from 55,000 by 2020.It was also reported that in H2 2014 as part of the optimization of the personnel number the company should have 42,345 employees, which would involve reducing 5,500 jobs of which 2,000 would come under cut.  Full Article

NK Rosneft' OAO, Avtovaz OAO expand cooperation
Wednesday, 27 Aug 2014 08:00pm EDT 

NK Rosneft' OAO:Says that Rosneft and AVTOVAZ signed an agreement of development of strategic cooperation, which expands the scale of partnership between the companies.Among other things the document envisages the development, testing and introduction of lubricant materials and other Rosneft oil products required by AVTOVAZ businesses.It also envisages the possibility of closing of long-term contracts for the supply of AVTOVAZ production facilities with lubricant materials and oil products.Such a cooperation configuration will allow AVTOVAZ to optimize the purchasing procedures and curtail production expenditures.In its turn Rosneft will receive a guaranteed distribution channel for its products and a possibility to conduct joint R&D in the sphere of the creation and implementation of modern solutions in the sphere of lubricant materials.  Full Article

UPDATE 1-Russia's Avtovaz says Lada sales up 16 percent from February

MOSCOW, April 1 - Russia's largest automaker Avtovaz said on Wednesday that Lada sales in March reached 27,423 units, up 16 percent from the month before.

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