OREANDA-NEWS. August 24, 2009. Rostekhnologii could announce the formation of a single car making corporation to merge AvtoVAZ and KamAZ this week. Sergey Chemezov, CEO of state corporation Rostekhnologii, which owns a 25% stake in AvtoVAZ and a 37.8% stake in KamAZ, intends to announce the formation of the new holding.

All automobile assets held by Rostekhnologii are to be assigned to the new holding, including a 30% stake in GAZ-controlled Autodiesel located in Yaroslavl. A Rostekhnologii top manager and AvtoVAZ spokespersons only confirmed that such plans are under consideration. Spokespersons of AvtoVAZ and Rostekhnologii declined to comment.

The decision on the structure of the car making holding is to be adopted in the second half of September after the government meeting devoted to the Russian car making industry, an officer of AvtoVAZ’s partner said. One option provides for large powers to run its enterprises, including marketing and sales, with car plants to be turned into production sites.