Rus News Journal

Foreigners lift the Russian car industry

the Russian manufacturer commercial and cars, the company " Severstal - the Car " all feels on a domestic car market more confidently. Some years the company is in the lead by efficiency and profitability of business in the Russian car industry. Dividends which she pays to the shareholders - the highest in branch. And " Severstal - the Car " forms 2DAY a fashion on attraction of foreign managers in the Russian car industry.

Board of directors " Severstal - the Car " almost completely consists of independent directors. Such is a position of proprietors of the company, CFMed at last meeting of shareholders on May, 18th this year. Under the decision of shareholders, the company Board of directors was headed by David Herman, the former vice-president of General Motors. Ejk Brennstrom has entered into Advice, the former manager S˝ania which election has coincided with pressing forward " 2; Severstal - the Car "

the List of the directors directly related to the company, is very short - in it only two persons: financial director Nikolay Sobolev and Vadim Shvetsov, the general director and the owner of a controlling stock. From its giving in company Board of directors began to involve foreign experts. 40 - the summer manager who has RCVed degree MBA in one of universities of Great Britain, Shvetsov from the very beginning began to build WRK of the company on modern standards: has entered institute of independent directors, has introduced programs of reduction of costs, optimisation of states, accounts department under the international standards. « the board of directors has turned out really independent, - Shvetsov SPK. - We also wanted it, that our strategy of development became even better. It was important to us to result competent people, we have RCVed it ». SHvetsov 2DAY is the basic owner of the company - it posesses 58 % of actions " Severstal - the Car ". In February of this year it has increased the package at the expense of acquisition of a share of Alexey

By a recognition of experts, " Severstal - the Car " 2DAY - one of the most effective motor-car manufacturers in Russia. " the company from the moment of the creation shows steady growth of profit. It favourably distinguishes autoholding from other Russian autoenterprises which are suffering affliction from low profitability and absence of accurate strategy of development " - SPK Sevastjan Kozitsyn, an analyst of company BKS.

2DAY the holding posesses 66,07 % of actions of the Ulyanovsk car factory (UAZ), 75,04 % of actions of Zavolzhsky motor factory and 99,66 % of Factory of midget cars (ZMA) in Naberezhnye Chelny. A basis of a grocery number of the company all-wheel drive cars, malotonnazhnye make trucks and minibuses which descend from the conveyor Oise. On the basis of ZMA the company lets out three models of the Korean off-road cars of SsangYong and one of small-displacement models of Fiat. In the near future a new priority " Severstal - the Car " there is a release on the basis of the joint venture in OEZ " Alabuga " commercial

But the further strengthening of positions in the market is impossible W/ O capital investments in manufacture development. Investments of the company into projects on assemblage of models of SsangYong and Fiat on ZMA have made $100 million In preparation of release of Fiat Dusato in Elabuge is enclosed $130 million, in the project of a conclusion to market Isuzu - $2 million In development own dealer   networks " Severstal - the Car " invested $139 million, and $ more 12 million will be spent for advancement of the stamp of Fiat in the Russian market the next 3 years

" Attraction of foreign experts will help to raise corporate governance level, - consider in the investment company " Veles the Capital ". Is an attraction of a wide experience and knowledge in motor industry sphere, and, hence, competent decisions on business development ".

Thanks to competent « international » management strategy, the company has already reached impressing financial results. In 2006 its gain has reached $1,23 billion (+31 %), net profit - $67 million (+24 %). Shareholders of the company from it only in a prize: dividendnye payments following the results of 2006 will make 675 million roubles   ($26,1 million). To More shareholders yet did not pay any autoholding in Russia. 4 comparison: " Autovases " will pay as dividends for 2006 330,8 million roubles ($12,8 million), " Group GAS " following the results of 2005 has paid 560 million roubles ($21,5 million).

the Opinion of the author can not coincide with an edition position