OREANDA-NEWS. October 17, 2011. KAMAZ Financial Services GmbH, Austria, signed a revolving credit agreement with the Swiss bank Credit Suisse to finance imports and exports in the interests of OJSC KAMAZ for the sum of ˆ10 million in the general directorate of KAMAZ, Naberezhnye Chelny.

According to Klaus Merz, Director of Export Finance, Credit Suisse Bank, who participated in the signing of the agreement, this is only the first step they took in their supposedly long-term cooperation with KAMAZ’s daughter enterprise. Klaus Merz emphasized that the agreement was signed due to their successful partnership, as well as high reputation and expertise of the managers of KAMAZ Financial Services GmbH and OJSC KAMAZ.

KAMAZ Financial Services GmbH is a subsidiary of OJSC KAMAZ which provides services of structured finance and investment in the interests of the parent company. On factoring terms, KAMAZ Financial Services delivered to KAMAZ imported parts from companies Oerlikon Graziano (axles, Italy), BorgWarner Cooling Systems (fans, viscous couplings, Germany), Robert Seuffer (cruise controls, Germany). It is also planned to parts from companies KINEX (bearings, Slovakia), NDGS GmbH – Noviy Disel Gearbox Service (gearboxes, Germany).

Credit Suisse is one of Europe’s largest banks. Its profit amounted to 5 billion Swiss francs (5.5 billion U.S. dollars) last year. The lending agency has got branches and representative offices in 50 countries and employs 50 thousand people.