Renault has acquired the complete ownership of Avtoframos Car Factory

Renault has acquired the complete ownership of Avtoframos Car Factory

Auto.vesti.ru –  Renault has purchased the remaining 5.9% shares of Avtoframos Car Factory, established in Moscow, from the government of the city. Thereby, the complete ownership of the factory has shifted to Renault.

Avtoframos had been established by Renault and the Government of Moscow in 1998, on equal partnership principle. Renault had increased its share in the partnership up to 94.1%, by gradually acquiring shares from the Moscow government in the course of time.

Logan, Sandero, Fluence, Duster, Latitude and Koles are the models currently under production at the factory, in which Renault has invested €480 million up to today.