OREANDA-NEWS. October 12, 2009. A contract on support of procurement was signed by KAMAZ Inc. and Daimler AG in Stuttgart (Germany).

The contract opens up KAMAZ Inc. new opportunities to decrease costs for the purchase of components from the European Union countries, to find new partners among the traditional and reliable suppliers of Daimler AG, and consequently improves the quality of produced vehicles. Besides, KAMAZ’s strategic partner will help the company to build a procurement structure, to find, select and assess suppliers.

REFERENCE. The contract on strategic partnership between KAMAZ Inc. and Daimler AG Concern with the participation of Rostekhnologii State Corporation (Russian Technologies) and Troyka Dialog Group of Companies was signed in December 2008. It stipulated conditions of exclusive strategic partnership, as well as the basic principles and methods of cooperation between the parties. The German concern acquired 10% of KAMAZ holding of shares.

Daimler AG is the second German company (by the turnover). Its headquarters is located in Stuttgart (Baden-Wьrttemberg federal state). It is one of the globally leading automobile producers. As of 31 December 2007 the market capitalization of the concern made up 67.4 billion euro, the annual income was 99.4 billion euro, the staff of the concern numbered 272 thousand people. The concern owns assembly enterprises in 17 countries.