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    Tuesday, November 24, 2009

    Daimler, Kamaz Create Joint Ventures In Russia

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    By Polya Lesova
    MarketWatch Pulse
       

      FRANKFURT -- Daimler AG said Tuesday it has signed agreements with Russian truckmaker Kamaz to establish two joint ventures. Each of the two partners will own 50% of the joint ventures. Daimler and Kamaz will each contribute 4.1 million euros ($6.1 million) in initial equity to the Fuso Kamaz Trucks Rus joint venture. And the two parties will contribute 5.9 million euros each to the capital of the second joint venture, Mercedes-Benz Trucks Vostok. "As soon as the Russian truck market will recover, we at Daimler Trucks are able to react on any additional truck demand immediately," said Andreas Renschler, board member of Daimler, in a statement. Daimler holds a 10% stake in Kamaz.

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