11 Sep 2012 11:22

Sollers licenses Kazakh plant to produce UAZ automobiles

MOSCOW. Sept 11 (Interfax) - Russia's Sollers Group has transferred its 51% stake in the SaryarkaAvtoProm joint venture to its Kazakh partner, the Tobol civic entrepreneurial corporation.

"We have withdrawn from the project in Kazakhstan. The project is now developing on a standalone basis. Our partner has acquired a license to produce UAZ Patriot automobiles and claims licenses to the old models," Sollers CEO Vadim Shetsov told a press conference.

He did not disclose the details of the license agreement.

The production capacity of SaryarkaAvtoProm is 18,000 vehicles a year. In July 2012 the company started the serial production of UAZ and Iveco vehicles.