Thursday, November 01, 2007
GAZ goes for growth
The GAZ Group has announced it is to embark on a $2bn (£1bn) investment programme to spearhead further growth.
The Russian owners of LDV, which have reported a 30 per cent increase in revenues over the last five years, said the investment would be used to renew its product line-up.
Funds will also be made available to design a new powertrain as well as combining research and development at a unified engineering centre.
Erik Eberhardson, head of the automobile division of Russian Machines, GAZ Group’s parent company, said: “Our investment plans reflect our determination to be one of the global players in the international commercial vehicle market.”
He added that the four-year plan to achieve a global presence would be achieved through acquisitions, partnerships and strategic alliances.
DATED: 01.11.07
FEED: MT
