24 Sep 2009 15:34

Kamaz and Daimler sign contract to support purchasing

KAZAN. Sept 24 (Interfax) - Russia's OJSC Kamaz and Germany's Daimler AG signed a contract in Stuttgart to support purchasing activities, the Russian company said in a statement.

"The contract opens for OJSC Kamaz new opportunities to reduce costs for the purchasing of components from countries of the European Union, searching for new partners among Daimler AG's traditional and trusted suppliers, and, consequently, improving the quality of automobiles produced. Kamaz will receive methodological support in developing purchase structures, as well as searching for, selecting and appraising suppliers," the statement said.

An agreement for strategic partnership between Kamaz and Daimler with the involvement of Rostekhnologii (Russian Technologies) and Troika Dialog was signed in December 2008. The contract spelled out the terms for an exclusive strategic partnership, as well as the main principles and methods for cooperation between the parties involved.

OJSC Kamaz is the parent company of the same-named group, which specializes in the production of trucks. In 2008, the company sold 47,500 automobiles. The company plans to sell around 28,000 vehicles in 2009.

Daimler owns 10% in Kamaz, Rostekhnologii - 37.8% and Troika Dialog - 44.4%.