English version - Structure - Manufacturing

GAZ Group announces 2011 IFRS results

Thu, 17 May 2012 00:00:00 GMT

In 2011 GAZ Group achieved the highest results in the history of the company in terms of net profit, net profit margin, and revenue per employee.

In 2011 the revenue of the company increased by 37%, EBITDA – by 49%, and net profit – by 4 times.

Bo Andersson, President/CEO of GAZ Group: “In 2011 we fulfilled all tasks that we had aimed at strengthening the company’s competitiveness. We increased sales, considerably improved financial results, renewed the model range and started implementation of joint projects with international automakers”.

GAZ Group announces 2010 IFRS results

Wed, 06 Jul 2011 00:00:00 GMT

GAZ Group, the largest Russian manufacturer of commercial vehicles, has summed up 2010 results according to the International Financial Reporting Standards. The company finished the year with net profit raising the revenue by 47%, increased sales volumes in all segments and retained leadership of the Russian commercial vehicles market.

VOLKSWAGEN Group Rus and GAZ Group sign a long term agreement on contract manufacturing of 110.000 cars per year at GAZ plant

Tue, 14 Jun 2011 00:00:00 GMT

Nizhny Novgorod, 14 June, 2011 - Today VOLKSWAGEN Group Rus and GAZ Group, part of Oleg Deripaska's ‘Basic Element', have come to an agreement on contract manufacturing of Volkswagen and Škoda cars at GAZ plant in Nizhny Novgorod.

Russian Machines and Fritzmeier sign Memorandum of Understanding to create JV

Mon, 30 May 2011 00:00:00 GMT

Tver, Russia. 30 May 2011. - Russian Machines, the leading machine-building holding in Russia, and Fritzmeier, the largest manufacturer of cabins for construction equipment and agricultural machinery in the world, have signed a Memorandum of Understanding to create a JV in Russia specializing in production of cabins for construction and road-building equipment. The investments in the new production will be more than $50 million.

GAZ GROUP and TEREX CORPORATION announce joint venture to make construction and roadbuilding equipment in Russia

Mon, 30 May 2011 00:00:00 GMT

Tver, Russia \ Westport, CT, May 30, 2011 - GAZ Group, part of Oleg Deripaska's Basic Element, and Terex Corporation (NYSE:TEX) today announced they have entered into an agreement to form a joint venture company for the manufacture of construction and roadbuilding equipment in Russia. Under the agreement, the joint venture will manufacture, market and sell certain Terex and all GAZ Group construction and roadbuilding products in Russia, as well as distribute construction and roadbuilding products manufactured by Terex and exported into Russia. The joint venture will also sell certain construction and roadbuilding products of GAZ Group at the export markets.

GAZ Group and global autocomponent manufacturer BOSAL create emission control systems joint venture

Wed, 23 Mar 2011 00:00:00 GMT

GAZ Group and BOSAL, one of the leading international manufacturers of emission control systems, have signed an agreement to establish a joint venture at Gorky Automobile Plant.

GAZ Group CEO Bo Andersson named the best automotive executive of 2010 in Russia

Wed, 16 Mar 2011 00:00:00 GMT

Bo Andersson, President of GAZ Group, received "Automotive Executive of the Year" award at the international Automotive Forum. The biggest automotive forum in Russia organized by Adam Smith Institute is taking place in Moscow from March 15 to March 17, 2011.

Volkswagen Group Rus and GAZ Group sign Memorandum of Understanding on manufacturing of cars in Russia

Thu, 24 Feb 2011 00:00:00 GMT

Moscow, February 24th, 2011. - Today Volkswagen Group Rus submitted a memorandum of intent to the Ministry of Economic Development of the Russian Federation, confirming its interest in the new «industrial assembly» conditions defined by the new version of Decree 166.
Also today, Volkswagen Group Rus and GAZ Group, part of Oleg Deripaska's ‘Basic Element Group', have come to an agreement on the manufacturing of Volkswagen and Skoda models at GAZ production facilities in Nizhniy Novgorod.

GAZ to Assemble Next-Generation Chevrolet Aveo in Russia for GM

Tue, 01 Feb 2011 00:00:00 GMT

General Motors Co. and Russian automotive manufacturer GAZ Group, part of Oleg Deripaska's ‘Basic Element Group', have signed an agreement for the contract assembly of the new Chevrolet Aveo small car at GAZ's facility in Nizhniy Novgorod, Russia.

Daimler and Russian Commercial Vehicle Manufacturer GAZ Sign Memorandum of Understanding on Contract Manufacturing of Sprinter Van in Russia

Thu, 23 Dec 2010 00:00:00 GMT

Daimler has selected GAZ as a partner in Russia and plans to invest more than €100 million in production of Mercedes-Benz Sprinter in Nizhny Novgorod.

Deripaska’s GAZ Group announces partnership with China’s FAW

Mon, 27 Sep 2010 00:00:00 GMT

Oleg Deripaska's GAZ Group today signed a Memorandum of Understanding (MoU) with China's FAW Group Corp. to establish a joint venture to produce the Chinese company's heavy trucks in Russia.

GAZ Group presents new products at ComTrans-2010 exhibition

Tue, 20 Apr 2010 00:00:00 GMT

At the 10th International Specialized Exhibition ComTrans-2010 in Moscow, GAZ Group presents various modifications of the upgraded commercial vehicle GAZelle-BUSINESS, including GAZelle with LPG equipment launched into production together with Italian company OMVL. GAZ Group also exhibits its new buses.

GAZ Group completes debt restructuring

Tue, 02 Mar 2010 00:00:00 GMT

On March 1, 2010 GAZ Group completed restructuring of its RUR 39.3 billion bank debt. The Company entered into 5-year loan agreements with 22 Russian and foreign banks, providing for a two-year grace period for repaying the principal and 6 months grace for interest payments. Sberbank of Russia acted as organizer of the syndicate of GAZ Group's creditor banks, while Raiffeisenbank became documentation agent.

GAZ Group signs debt restructuring agreement with creditor banks. Alfa-Bank thwarts completion of restructuring.

Thu, 24 Sep 2009 00:00:00 GMT

GAZ Group has signed definitive agreements on debt restructuring with 21 creditor banks, including the syndicate of foreign banks. However, completion of the transaction that is unprecedented for the Russian market is hindered by Alfa-Bank which has been delaying signing of the agreement with GAZ Group since late July, when agreement in principle on the terms of restructuring was reached with the creditor banks.

Bo I. Andersson appointed President of GAZ Group

Fri, 07 Aug 2009 00:00:00 GMT

Chairman of the Board of Directors of OJSC GAZ Bo Andersson has been appointed President of GAZ Group.

Former GM executive elected GAZ Chairman

Mon, 20 Jul 2009 00:00:00 GMT

Former GM Group Vice-President Bo Andersson has been elected as Chairman of the Board of Directors of OJSC GAZ.

GAZ Group receives 20 billion rubles in state guarantees

Wed, 08 Jul 2009 00:00:00 GMT

A high-level review of the successful steps taken by GAZ Group to bring its financial problems under control resulted yesterday in a vote in confidence in its long-term future.

GAZ Group enters into cooperation agreement with Open Joint Stock Company "State Transport Leasing Company" (OAO GTLK)

Fri, 03 Jul 2009 00:00:00 GMT

On July 3, 2009 GAZ Group CEO Sergey Zanozin and Victor Klochai, CEO of OAO GTLK, signed agreement on cooperation, envisaging the use of efficient financial lease instrument in supplying the transport sector of the Russian Federation with modern, multi-functional high-technology road equipment produced by GAZ Group for construction and maintenance of federal and regional automobile roads. In the framework of the agreement GAZ Group developed a package proposal, including not only the delivery of a complete model range of GAZ-manufactured special machinery, but also a full complement of after sale services at company's dealerships.

Former GM Group Vice President Bo Andersson agrees to Chair GAZ Board of Directors

Mon, 15 Jun 2009 00:00:00 GMT

Former GM Group Vice President Bo Andersson has accepted the proposal of shareholders of OJSC GAZ to join the Board of Directors of the company.

GAZ Group signs agreement to sell UK LDV business to Weststar of Malaysia

Wed, 06 May 2009 00:00:00 GMT

LDV withdraws petition for administration

GAZ Group has entered into agreement to sell its UK LDV van business to Malaysian automobile manufacturer and distributor Weststar.