OREANDA-NEWS. October 28, 2009. In Moscow in the presence of Prime Minister of the Russian Federation Vladimir Putin CEO of FIAT Group Transnational Company Sergio Marchionne and Director General of Rostekhnologii State Corporation – Chairman of the Board of Directors of KAMAZ Inc. Sergey Chemezov signed an agreement between KAMAZ Inc. and CNH Internation (a part of FIAT Group) on establishment of two joint ventures producing agricultural and construction equipment, as well as on sales promotion and production distribution. Chairman of the Government of the Republic of Tatarstan Rustam Minnikhanov, Director General of KAMAZ Inc. Sergey Kogoghin, Head of CNH Internation Franco Fusignani and others were present at the signing ceremony.

Collaboration of KAMAZ Inc. and CNH in production of agricultural and construction equipment will create additional workplaces, increase tax proceeds for budgets at various levels and improve the technology of the Russian agricultural and construction engineering. The use of the equipment produced by JV on fields will raise productivity in agriculture and reduce losses when harvesting.

“This agreement is a serious sign of CNH’s long-term adherence to Russia. CNH will contribute its technologies and know-how, current distributor network, access to the extensive source of suppliers and the correspondent economy of scale, solutions in retail financing and leasing, stable presence on the Russian market and recognizability of the leading brand together with a wide production line of localized as well as imported products to the joint ventures”, - noted Sergio Marchionne after the agreement signing.

“The Russian industrial companies on the whole and KAMAZ in particular are actively developing collaboration with the leading global producers of advanced technology products. This enables us to attract cutting edge technologies and provide the Russian customers with modern equipment”, - said Sergey Chemezov.