Russian industrial groups “Industrial investors” and “Tractor Plants” started to consolidate the agricultural machinery building assets owned by the two groups. The information appeared in the announcement of “Industrial investors”.
After the consolidation the parts will own equal shares of Agricultural Machinery Holding. At the starting period Agricultural Machinery Holding owned by “Industrial investors” will take over JCS “Lipetsk Tractor”, “Vladimir Motor and Tractor Factory” and JCS “Onega Tractor Factory” headed by the President of “Tractor Plants” Mikhail Bolotin. This period is expected to be completed by the end of March, 2006.
The vice-president of “Industrial investors” Konstantin Khamlai will remain the Chairman of the Board, the place of General Director will be taken by the vice-president of “Tractor Plants” Viktor Chetverikov.
Agricultural Machinery Holding contains “Krasnoyarsk Combine Factory” producing 45% of Russian combines, “Volgograd Tractor Plant” manufacturing 50% of Russian tracked agricultural tractors, “Altay Motor Factory” producing 60% of Russian diesel engines for farming machinery, and some other businesses.
The industrial group “Tractor Plants” incorporates 10 biggest machinery manufacturing companies and scientific research centers.
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