The share of KAMAZ in JV with Federal-Mogul has gone down

The share of KAMAZ in JV with Federal-Mogul has gone down

RNS –  The share of KAMAZ in Federal-Mogul Naberezhnye Chelny has gone down to 39.4% from 50% in 2016, as announced by the company.

The American side has made an investment in the enterprise, therefore, the share of KAMAZ has declined, as explained by a company representative. The registered capital of Federal-Mogul Naberezhnye Chelny has grown by 469 million rubles in 2016. 60.61% of the enterprise now belongs to Federal-Mogul Powertrain Vostok, which is owned by Federal Mogul Powertrain Russia, registered in Germany.

The agreement concerning the creation of the joint venture between the American Federal Mogul Corporation and KAMAZ had been signed in 2008. The enterprise has been manufacturing pistons, cartridges, piston rings and other components for truck engines at the modernised facilities of KAMAZ-Diesel, since October 2009.

The 2015 revenue of Federal-Mogul Naberezhnye Chelny was 1.1 billion rubles. The company made a loss of 11 million rubles at the end of the same year. The financial data of the company is not available for later periods.