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Russian-Belarusian holding MAZ-KAMAZ may be created in early 2014

December 18, 2013, 14:45 UTC+3 MINSK
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MINSK, December 18. /ITAR-TASS/. Belarus says a joint holding that will include Belarus and Russia’s biggest truck makers MAZ and KAMAZ can be created in the first half of 2014.

“At present, a contract was signed with the consortium Chadbourne & Parke LLP and Sorainen for legal analysis of the possibility of signing and implementing the trust agreement on shares in MAZ and KAMAZ,” the Belarusian government press service told Itar-Tass on Wednesday.

The project envisages the creation of a holding, which will get 75 percent plus one share in MAZ and 49.9 percent of shares in KAMAZ.

“If a decision on efficiency of the yet-to-be structure is positive, and there are all preconditions for this, we plan to finalise the issue on founding documents soon,” Belarusian Deputy Prime Minister Vladimir Semashko said.

“I believe we have chances to create a joint venture that is nominally dubbed as Rosbelavto in the first half of next year,” he said. In the event of the holding’s creation “MAZ will get an access to many export markets of KAMAZ.”

Moreover, if the two truck makers pooled efforts and pursued common technological policy, they would save huge funds, Semashko added.

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