Rus News Journal

Creation of Volzhsko - Kamsky FPG

Autovases has come to the end and KamAZ have definitively issued the union

last days leaving 1994 formation unprecedented for the Russian motor industry financially - industrial group with participation of joint-stock companies " has been finished; Autovases and KamAZ created according to Boris Yeltsin`s decree. Constituent documents have been signed, the charter is accepted and director Volzhsko - Kamsky FPG - Vitaly Poljakov (in the past - the minister of an automobile industry of the USSR and the first director of the Volga car factory) is appointed.

According to the general director of joint-stock company Autovases Vladimir Kadannikov, Volzhsko - Kamsky FPG, created with the assistance of AvtoVAZbanka, will allow two largest Russian automobile factories to start realisation of new highly profitable production programs. Besides, the alliance will allow to order relations with suppliers of materials and accessories for manufacture of cars which frequently price out the production and break schedules of deliveries. Will supervise FPG incorporated board of directors. It was originally supposed that its two co-chairmen - Vladimir Kadannikov and Nikolay Beh will head, having the right vetoes, but then such decision have refused. Obviously, as the reason of it fears have served that two bright and authoritative leaders not always can find common language. Therefore Vitaly Poljakov possessing a wide experience, the competence and, probably, ability to find compromises became head FPG. As financial base of group AvtoVAZbank which shareholders both factories (and the chairman of the supervisory board of bank is g - n Kadannikov, and its assistant - the assistant to general director KamAza on economy g - n the Clod) consist will serve.
As appears from words of general director KamAza Nikolay Beha and president AvtoVaZbanka Peter Nahmanovicha, on the substance of Volzhsko - Kamsky FPG actually works already more than a year, yet without being documentary issued. Thus a strategic line of AvtoVAZbanka is ability achievement to solve not only problems of current financing of participants of an alliance, but also to provide large investment programs. KamAZ has already begun realisation of the investment program in volume of $3,5 mlrd (see from December, 17th). G - n Nahmanovich believes, as VAZ can start in the near future realisation of the similar program. Within the limits of FPG AvtoVAZbank will be engaged in the organisation of powerful bank group. Simultaneously with Volzhsko - Kamsky FPG the management of VAZ and KamAZa has confirmed constituent documents of joint-stock company on manufacture of cars VAZ - 1111 ( Oka ) . Both factories will let out separate knots and details of this car, and assemblage will be carried out in Serpukhov. In opinion g - on Kadannikov, thanks to it volumes of output " will grow; Oka it becomes better and cheap. Besides, there will be a possibility to satisfy orders of the Ministry of social problems on release of cars for invalids.