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KamAZ to Buy British Tractor Facilities
KamAZ intends to buy “part of the capacity” of the British tractor maker the McCormick company for $5-7 million and transfer it to Russia, where KamAZ hopes that it can occupy more 10 percent of the Russian tractor market. KamAZ is Russia's largest maker of large trucks. McCormick is controlled by the Italian holding ARGO. It manufactures agricultural tractors with power ranging from 70 to 280 horsepower. In December of last year, ARGO closed part of the McCormick works and moved it to its Landini plant in Italy. McCormick has 1100 employees. It does not publish its financial results.
A KamAZ source said that the company is considering buying McCormick's pressing, mounting and assembly works and moving them to Tatarstan for local production of McCormick tractors. Those tractors are already being made in Tatarstan from assembly kits. About 200 of them will be made there this year. KamAZ hopes eventually to produce 4000 tractors per year.
The Minsk Tractor Plant (Russian abbreviation MTZ) practically has a monopoly on midsize tractor sales in Russia now. It sells 15,000-17,000 machines per year. The total Russian market is about 30,000 machines. MTZ has an assembly line in Tatarstan that produces 2000-3000 tractors per year.
www.kommersant.com
All the Article in Russian as of Nov. 13, 2007
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