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25.10.2006

Privatization of KAMAZ is inevitable

KAMAZ will be privatizedKAMAZ will be privatized.

KAMAZ truck factory will be privatized no later than 2008, said Mintimer Shaymiev, president of Republic of Tatarstan, Russia. “KAMAZ will be privatized", he announced at a press conference in London. “The farthest date is 2008. Possibly, it may happen in 2007”

Shaymiev reminded that today most of KAMAZ shares are concentrated in hands of Russian Ministry of State Property, other shares are owned by the government of Tatarstan.

Head vice-premier of Tatarstan Boris Pavlov also said that next year KAMAZ plans to complete stock offering on London Stock Exchange Market. “It will increase company`s capitalization and prepare it for privatization”, he said.



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