Avtotor assembles 19% more vehicles in 2012
MOSCOW. Feb 8 (Interfax) - The Avtotor group of Kaliningrad Region assembled 265,000 automobiles in 2012, Avtotor Holding chief executive Alexander Sorokin told Interfax.
The group's plants assembled 222,000 vehicles in 2011, so production grew by 19.4% in 2012.
Sorokin did not disclose the group's financial results in 2012. Forbes has reported that Avtotor closed 2012 with revenues of 200 billion rubles. The company's spokesman was not available Thursday for comment.
Avtotor's revenue from automobile production totalled EUR4 billion in 2011, and the company previously expected revenue to grow to EUR5.5 billion-EUR6 billion in 2012, Vedomosti reported earlier, citing former Avtotor chairman Vladimir Scherbakov. He is now in charge of a project to create an automotive cluster in Kaliningrad Region.
Avtotor in November 2012 signed a general agreement with Magna International Europe AG. By working with Magna, Avtotor will be able to preserve the preferential regime it currently enjoys after 2016 and produce at least an additional 250,000 vehicles per year.
Avtotor and Magna plan to build up to six auto plants and at least 15 car parts production plants, which will be produced both for the cluster's auto plants and other plants in Russia as well as for exports. Investments in the project might reach 100 billion rubles.
Avtotor assembles BMW, Kia, Chevrolet and Opel Hyundai at several sites in the Kaliningrad Region.
