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* Russia - Renault-Nissan & AvtoVAZ
* France - Renault-Nissan alliance creates procurement group with AvtoVAZ
Paris,France -Bloomberg News/The Detroit News, by Mathieu Rosemain -September 18, 2013: -- Renault SA and partner Nissan Motor Co. created a parts-procurement venture with OAO AvtoVAZ, Russia’s biggest carmaker, as the manufacturers seek to limit costs as they expand in the country in a three-way tie-up... The venture is modeled on the 12-year-old Renault-Nissan Purchasing Organization, which holds a 50 percent stake in the new Russian entity, with Togliatti-based AvtoVAZ owning the other half, the companies said in a joint statement Wednesday... Renault, France’s second-biggest carmaker, and Yokohama, Japan-based Nissan are in the process of acquiring control of AvtoVAZ, the maker of Lada vehicles, under an agreement signed late last year that pledges the buyers to invest 23 billion rubles ($713 million). Renault has targeted a 40 percent combined market share in Russia for the three companies by 2016...
Labels: carmakers news worldwide
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