Key Developments: Kamaz OAO (KMAZ.MM)

KMAZ.MM on Moscow Interbank Currency Exchange

19 Dec 2014
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Latest Key Developments (Source: Significant Developments)

Kamaz OAO revises 2020 strategy
Wednesday, 24 Dec 2014 07:00pm EST 

Kamaz OAO:Says its board of directors revised the company's strategy until 2020.Says the strategy was revised due to the slowdown of the Russian economy, growth of uncertainty in the world markets, and complication of the geopolitical situation.Reduces forecasted sales to 60,000-70,000 units, versus previously planned 80,000 units.Proportion of overseas sales was revised to 20-30 pct versus previously planned 25 pct.Expected revenue was lowered to the range of 230-270 billion Russian roubles, versus previously planned 350 billion roubles.EBITDA was lowered to 8-10 pct of revenue, versus 14 pct planned previously.Investments are expected in range of 60-80 billion roubles, versus 62 billion roubles planned previously.  Full Article

Kamaz OAO to assemble vehicles in Azerbaijan
Monday, 22 Dec 2014 07:00pm EST 

Kamaz OAO:Signs number of agreements for assembly of Kamaz vehicles in Azerbaijan.The assembly is expected to start in first half of 2015.  Full Article

Kamaz OAO intends to raise 1.6 bln ruble credit from VTB-Interfax
Friday, 24 Oct 2014 01:53am EDT 

Kamaz OAO:Kamaz intends to raise 1.6 billion Russian ruble credit from VTB bank under state guarantees, the company said in a statement-Interfax.At the next meeting on Nov. 27 the shareholders will decide on approving a credit agreement for state guarantees between the Russian Ministry of Finance, Vneshekonombank, VTB and Kamaz.The state guarantees will be provided for the entire credit.The interest rate is 9.75 percent per annum, the credit is to be provided until Dec. 31, 2018.  Full Article

Moody's ratings of Kamaz OAO, Vertolety Rossii OAO, AK Alrosa OAO unaffected by Russia's sovereign rating action
Tuesday, 21 Oct 2014 09:45am EDT 

Kamaz OAO:Moody's Investors Service has said that the ratings and outlooks of government-related issuers (GRIs) KAMAZ (Ba2 negative), Vertolety Rossii OAO (Ba2 negative), AK ALrosa OAO (ALROSA) (Ba3 positive) are unaffected by the weakening of Russia's credit profile.The corporate family ratings of the aforementioned GRIs, which are positioned in the Ba2 (KAMAZ, Vertolety Rossii OAO) or Ba3 (ALROSA) categories, are primarily driven by their standalone baseline credit assessment (BCA).As such, their ratings remain unaffected by the sovereign action despite their linkage with the Russian economy.Moody's believes that the weakening of Russia's credit profile, as reflected by Moody's downgrade of Russia's government bond rating to Baa2 from Baa1 on Oct. 17, has not affected the degree of government support for the GRIs.The rating agency assesses this support as being strong for KAMAZ, Vertolety Rossii OAO, and moderate for ALROSA.Moody's expects that the probability of the aforementioned GRIs receiving support from the sovereign remains largely unchanged.  Full Article

Kamaz OAO to sell military vehicle subsidiary-Interfax
Tuesday, 21 Oct 2014 01:33am EDT 

Kamaz OAO:Kamaz will sell its wholly owned Special Automobiles Plant by the end of this year or early next, a representative of the Russian truck maker told Interfax-Interfax.Special Automobiles Plant, based in Tatarstan, makes the Typhoon armoured personnel carriers and Vystrel infantry combat vehicles.It is the Russian truck maker's last military asset.The Vedomosti newspaper said the plant would be sold to a company affiliated with plant management.Kamaz now plans to produce civilian products only.  Full Article

Moody's downgrades Kamaz OAO CFR to Ba2
Monday, 13 Oct 2014 03:40am EDT 

Kamaz OAO:Moody's Investors Services has downgraded to Ba2 from Ba1 the corporate family rating (CFR) and to Ba2-PD from Ba1-PD the probability of default rating (PDR) of KAMAZ.The outlook is negative.The downgrade of the BCA to b2 is triggered by Moody's expectation that KAMAZ's financial metrics will weaken in 2014 and 2015.The negative outlook reflects Moody's concerns that challenges for the Russian economy as well as in Russian truck market may be deeper and longer than the rating agency currently anticipates.  Full Article

Kamaz OAO appoints acting finance director-Interfax
Friday, 12 Sep 2014 05:19am EDT 

Kamaz OAO:Andrey Maksimov has been appointed acting finance director at Kamaz, the company's statement says-Interfax.Maksimov held the post of chief accounting officer at the company.  Full Article

Kamaz OAO CFO leaving company-Interfax
Thursday, 4 Sep 2014 11:33pm EDT 

Kamaz OAO:Deputy General Director - Chief Financial Officer of Kamaz, Elena Milinova, is leaving her position, Kamaz press service said-Interfax.Milinova is moving to the respective post at X5 Retail Group.The CFO post at Kamaz has not been filled yet.  Full Article

Government to provide Kamaz OAO state guarantees-Interfax
Tuesday, 19 Aug 2014 04:53am EDT 

Kamaz OAO:The government will provide truck maker Kamaz with 35 billion Russian rubles in state guarantees for a term of up to 15 years, Prime Minister Dmitry Medvedev said at a meeting with Kamaz CEO Sergei Kogogin-Interfax.The state guarantees will be provided on corporate bonds, according to the text of the resolution published on the Cabinet's website.Kamaz's investment project for expanding the model lineup and modernizing capacity was selected to receive the state guarantees, it said.  Full Article

Kamaz OAO and Palfinger AG agree on two joint ventures in Russia
Monday, 18 Aug 2014 08:00pm EDT 

Kamaz OAO:Says that PALFINGER AG and Kamaz have agreed to establish two joint venture companies in Russia.The PALFINGER Group will hold 49 per cent and the KAMAZ Group 51 per cent in the joint venture focusing on mounting, which will specialize in truck bodies.The joint venture company will equip trucks with loading and handling systems.In addition to the existing dealer network of KAMAZ, the establishment of a separate network of dealers and service centres is planned.The company will have its registered office in Naberezhnye Chelny in Tatarstan, not far from the headquarters of the KAMAZ Group.The objective is to deliver more than 3,000 truck bodies per year by 2019.PALFINGER’s stake in the cylinder production joint venture will be 51 per cent.PALFINGER will acquire this interest in the existing cylinder production of KAMAZ in Neftekamsk in the Bashkortostan region and will invest in modernization of the plants.A targeted 80,000 cylinders for cranes, trucks and building machinery are to be built there by the year 2019.Subject to the necessary approvals, the closing of both transactions and hence the foundation of the new joint venture companies is planned for the end of Nov.  Full Article

Russian truckmaker Kamaz says to halt production for 3 days

MOSCOW, Sept 24 - Russian truck maker Kamaz will partially suspend production this month for three days due to a deteriorating Russian truck market, the company said on Wednesday.

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