PALFINGER starts operations for its two joint ventures with the leading Russian truck producer OJSC KAMAZ

• 49:51 joint venture for truck bodies in CIS 
• 51:49 joint venture for cylinder production in CIS

Salzburg/Naberezhnye Chelny, 10 März 2015

Yesterday the entry into the Russian company register of the establishment of the two joint venture companies, agreed between PALFINGER and the Russian KAMAZ Group in August 2014, became effective. This has paved the way for the immediate go-ahead for the operational implementation of the cooperation between the PALFINGER Group and OJSC KAMAZ. KAMAZ is Russia’s largest truck producer ranking 11th among the world’s largest heavy truck manufacturers. KAMAZ trucks are sold in the Russian market, and some of them are also exported to Asia and Latin America.

The PALFINGER Group holds 49 per cent and the KAMAZ Group 51 per cent in the joint venture Crane Center Kamaz LLC focussing on mounting, which will specialize in truck bodies. The joint venture company will equip trucks with loading and handling systems. In addition to the existing sales network of KAMAZ, the establishment of a separate network of dealers and service centres is planned. The company has its registered office in Naberezhnye Chelny in Tatarstan, not far from the headquarters of the KAMAZ Group. The objective is to deliver more than 3,000 truck bodies per year by 2019.

PALFINGER’s stake in the cylinder production joint venture Palfinger Kamaz Cylinders LLC is 51 per cent. PALFINGER has acquired this interest in the existing cylinder production of KAMAZ in Neftekamsk in the Bashkortostan region (where PALFINGER’s new INMAN crane plant, scheduled to start production in the first half of 2015, is located as well) and will invest in the modernization of the plants. The target is to build up to 80,000 cylinders for cranes, trucks and building machinery every year by 2019.