OREANDA-NEWS  On 26 November was announced, that the Bosal Group company, Belgium, invites the UkrAvto Ukrainian automobile corporation (AVTO) to participation in the project for the production of spare parts in Russia, Oleh Papashev, UkrAvto vice president said. He emphasized that Bosal earlier planned to extend its cooperation with UkrAvto in Ukraine, but the plans were frustrated by problems over obtainment of land lots. "Since the functioning capacities are already too small to us, and there is no sense in building new ones in Ukraine, Bosal rented areas from a Russian production company, opened a shop there, and now is looking for a development area, and offers cooperation to us," Papashev said. He emphasized that UkrAvto is yet undecided on participation in the project. In 2005, UkrAvto and Bosal Group signed an agreement on setting up a joint venture that would produce car exhaust systems. Bosal Group is one of the world leading producers of exhaust systems, towing equipment, beams, lifting jacks, steel pipes, and rack systems. Bosal Group, set up in 1923, has the Netherlands-based capital, and the headquarters in Lummen (Belgium). The Ukrainian automobile corporation ended 2007 with net profits of UAH 1,075.148 million. UkrAvto controls Ukraine biggest producer of passenger cars, CJSC Zaporizhia Car-Building Plant, and Warsaw automobile factory Fabryka samochodow osobowych (FSO).