AvtoVAZ and Renault-Nissan Alliance announced about the intention to set up Russian Joint Purchase Entity, the company informed.
It is expected to be held by AvtoVAZ and Renault-Nissan (RNPO) at par. In
2012 RNPO managed to provide 851mln euro in savings. Besides, the new company is assumed to raise the competitiveness of Lada brand.
AvtoVAZ (TIN 6320002223) is one of the leading car makers in the Eastern Europe. The share capital is worth 9.25bn rub. split in 1388289720 common and 461764300 preferred stocks of 5 rub. par. Rostekhnologii, Renault Concern and Troika Dialog IC have 25% each.
The IQ 2013 net losses (RAS) gained 306mln rub. vs. 105mln rub. in profit prior year; revenues increased 7.84% to 42.941bn rub. from 39.821bn rub.; profit from sales dropped 20.26% to 543mln rub. from 681mln rub.; pretax losses coming to 272mln rub. vs. 275mln rub. in profit.
The 2012-net profit (IAS) moved up 4.37 fold to 29.18bn rub.; revenues being up 8.56% to 190.061bn rub. from 175.073bn rub.
"AK&M", 13:08, 01.10.2013 1251 AKM,COR