IVECO has exited the Russian joint venture
- July 13, 2022
- 0
The “parade of exits” that began in the spring, when foreign companies fled Russia that had launched a military special operation, is not thinking of stopping. Before we
The “parade of exits” that began in the spring, when foreign companies fled Russia that had launched a military special operation, is not thinking of stopping. Before we had time to get annoyed by the decision of the Mercedes-Benz brand, Italian IVECO decided to say goodbye to its Russian assets.
It was announced a few months ago that IVECO’s headquarters are seriously considering withdrawing from the truck production joint venture. Anyway, in March of this year, the company’s CEO, Gerrit Marks, literally told Bloomberg: “It’s just impossible to do business with Russia right now.”
By the way, the Iveco-AMT joint venture has been around for more than 25 years, and the prefix AMT stands for “Miass Turin Automobiles”. In addition, Miass cars differ from Italian cars in more powerful frames, reinforced suspensions and much more.
Now the intention to give up the Russian joint venture has been reaffirmed: the aforementioned Mr. Marks told Reuters. According to him, 33% of the shares of the Italians have already been sold (most likely for a conditional ruble) to the second participant in the venture.
“The decision has been made, we have transferred our share to our (former) local partner, we have dropped out,” said IVECO CEO.
Meanwhile, Iveco-AMT’s neighbor, the Ural Automobile Plant, is experiencing a real renaissance. Ahead is the development of a new generation of bridges and the launch of fundamentally new models. For example, in Miass, they are ready to offer carriers road vehicles suitable for “long-range combat”.
It was announced a few months ago that IVECO’s headquarters are seriously considering withdrawing from the truck production joint venture. Anyway, in March of this year, the company’s CEO, Gerrit Marks, literally told Bloomberg: “It’s just impossible to do business with Russia right now.”
By the way, the Iveco-AMT joint venture has been around for more than 25 years, and the prefix AMT stands for “Miass Turin Automobiles”. In addition, Miass cars differ from Italian cars in more powerful frames, reinforced suspensions and much more.
Now the intention to give up the Russian joint venture has been reaffirmed: the aforementioned Mr. Marks told Reuters. According to him, 33% of the shares of the Italians have already been sold (most likely for a conditional ruble) to the second participant in the venture.
“The decision has been made, we have transferred our share to our (former) local partner, we have dropped out,” said IVECO CEO.
Meanwhile, Iveco-AMT’s neighbor, the Ural Automobile Plant, is experiencing a real renaissance. Ahead is the development of a new generation of bridges and the launch of fundamentally new models. For example, in Miass, they are ready to offer carriers road vehicles suitable for “long-range combat”.
Source: Avto Vzglyad
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
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