Businessman Strezhnev sells Ural Automobile Plant to mgmt - source

MOSCOW. June 1 (Interfax) - Russian businessman Dmitry Strezhnev has sold the assets of the Ural Automobile Plant in Miass, Chelyabinsk Region to the plant's management, a source familiar with the details of the deal told Interfax.

The deal has been closed and the buyer was a company affiliated with the plant's management, the source said, without naming the price. The Ural plant's press service confirmed the sale.

After the sale of Ural, Strezhnev will continue to work on the strategic development of businesses in construction and roads, agriculture, equipment and components, the source said, adding that the businessman plans to focus on "new international projects in Kazakhstan and Uzbekistan not related to machine building."

Strezhnev's United Machine-building Group (OMG) acquired control of the Ural plant, which produces heavy trucks and specialized vehicles on their basis, in March 2020, a source familiar with the situation told Interfax at the time. The deal that included the plant was confirmed by representatives of the parties. Along with Ural, OMG acquired other plants that manufacture road, construction and specialized machinery.

Strezhnev was head of EuroChem in 2003-2028 and previously headed an automotive group.