Rustam Minnikhanov: “We will defend KAMAZ interests as much as possible”

On June 27, at the annual shareholders meeting of OAO KAMAZ in Naberezhnye Chelny held by Board Chairman, Head of Rostec Corporation Sergei Chemezov, Tatarstan President Rustam Minnikhanov said that Tatarstan leadership will support KAMAZ and defend the interests of major enterprise in Naberezhnye Chelny and one of the leading Russian companies.

According to company’s annual report, KAMAZ produced 46.1 thousand vehicle sets, 43.2 thousand engines and power units in 2013. 43832 vehicles were sold, 38, 000 of them in Russia. According to Russian accounting standards, company’s proceeds reduced by 3.2 per cent.

KAMAZ Director General Sergei Kogogin made report on results of work in 2013. He said that company had to work in complicated conditions. Decrease in investment activity in the country because of completion of Universiade and Olympic Games in Sochi was the main negative factor.

However, due to realization of the programme on increasing efficiency of company’s business the cost-saving effect for the sum of 8.097 billion roubles was achieved. One of priority company’s activities was investments in development. 4.73 billion roubles were invested in modernization of fixed assets and research and technological development. Main costs were directed to funding of projects on engineering and production of new freight truck, cabins and engines of Euro 5 standard.

Sergei Kogogin told that production of new freight truck KAMAZ-5490 with new cabin designed in cooperation with Daimler started in 2013.

Speaking about cooperation with Daimler, KAMAZ Director General reminded about the decision that a foreign resident cannot take control of the enterprise.
The priority task to be realized by the company is the large-scale production reengineering.

During the meeting shareholders voted for paying dividends in the amount of 10 per cent of net profit (205.6 million roubles).

1,23 billion roubles were directed to funding of investment programme.

Shareholders also elected board membership. New board members are Arvid Turkner, EBRD Director for Regional Development (Russia), and Daimler Vice-president for truck business development Herald Junk.

Speaking at the session, Tatarstan President Rustam Minnikhanov noted great contribution of KAMAZ to development of the republic and the whole country. He added that though last year was difficult, made efforts helped keeping production volume and increase the share in Russian market.

‘We will continue defending KAMAZ interests and promote the company at global markets,” Rustam Minnikhanov said. The President entrusted regional government with supporting the enterprise in promoting its produce in Russian and foreign markets.

Rustam Minnikhanov noted that production of natural gas cars and buses should be developing.

Summing up, Tatarstan President also said that lack of engineers and professional workers is an acute problem. Therefore, 25 resource centres are being created in Tatarstan to solve the problem.