DAIMLER AND KAMAZ TO CO-OPERATE
Daimler Trucks and Kamaz are making progress in the implementation of joint projects. The basis of the projects is the strategic partnership that Daimler Trucks established with Kamaz, Russian Technologies, and the investment bank Troika Dialog in December 2008. In connection with this partnership, Daimler acquired a 10 percent stake in Kamaz.
Mitsubishi Fuso Truck and Bus Corporation (MFTBC) and the Russian truck manufacturer Kamaz signed the letter of intent already on July 7, 2009 to establish a joint venture for the importation, production and sale of Mitsubishi Fuso trucks in Russia. The conclusion of negotiations on the joint venture is intended by late October.
Furthermore Mercedes-Benz Trucks and Kamaz today have signed a letter of intent for a planned joint venture on producing Mercedes-Benz trucks in Russia together with Kamaz and to organize sales activities for Mercedes-Benz trucks and buses of the brands Mercedes-Benz and Setra.
In order to strengthen the market position of Mercedes-Benz products in Russia, the future company “Mercedes-Benz Trucks Vostok” will set up the production of Mercedes-Benz trucks in Russia in the near future and will sell Mercedes-Benz trucks and Mercedes-Benz and Setra buses via the joint venture with Kamaz. The Mercedes-Benz service partners and dealers in Russia will then be managed through the joint venture “Mercedes-Benz Trucks Vostok” and will receive a new contract partner. In addition, the sales and service network will be expanded step by step on the basis of selected Kamaz retail network.
