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TRUCKMAKERS NEWS * India / Russia: AMW to sell minority stake to KAMAZ's
* Gujarat - Heavy-duty truck maker AMW in talks to sell minority stake to Russia’s Kamaz
-- Heavy-duty truck maker Asia MotorWorks Ltd (AMW) is in talks with Kamaz Motors Ltd, Russia’s largest truck manufacturer, to sell a significant minority stake, according to three people familiar with the company’s plan... If the deal goes through, it will be the first of its kind in the truck market in India... The agreement, said one of the three people, will help debt-ridden AMW raise much-needed funds and also open up newer export markets for the company’s products... All three spoke on condition of anonymity... The Bhuj, Gujarat-based truck manufacturer has aboutRs.1,300 crore of debt... The venture will also help AMW in entering newer markets where Kamaz has a presence—as many as 90 countries, said the third person familiar with the company’s plans... For Kamaz, a deal with AMW will offer a readily available manufacturing facility, and distribution and service footprint in India, which is critical in the trucking business...
(Photo: Visual from AMW website) -- Bhuj, Gujarat, India - Deal Street Asia (Singapore), by Shally Seth Mohile - November 21, 2015
posted by Unknown @ 5:29 AM
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