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Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: Investcafe

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Kamaz OAO to Stop Production for Five Days in November-Interfax

Thursday, 31 Oct 2013 08:50am EDT 

Interfax reported that management of Kamaz OAO (Kamaz) have signed an order to stop production at the Company on November 5, 15, 22, 28 and 29, the Company told Interfax. Vehicle and associated production will be stopped. The stoppage will not affect employees in the primary foundry, sales and shipping services, parts production, bus production, product diversification, repair services or building maintenance. The stoppage will partly affect company lawyers, accountants and personnel services. A spokesman for the Company said production was being stopped as an anti-crisis measure to rationalize production and avoid overstocking. Earlier Kamaz noted the situation on the truck market was negative. The heavy trucks market fell 30% in January-September and Kamaz sales fell 10%. Kamaz CEO Mr. Sergei Kogogin said the Company plans to correct its business plan as it expects to sell 43,000 vehicles in 2013 and not 45,000 as previously predicted. 

Company Quote

0.05 +0.13%
6 May 2015