OREANDA-NEWS. The representatives of the European Bank for Reconstruction and Development (EBRD) from the UK visited KAMAZ.

The delegation included Sir Suma Chakrabarti, President of the EBRD; Natasha Khanjenkova, Managing Director Russia; Ekaterina Solovova, Head for Volga Federal District/Head of Samara RO. It should be recalled that, under an agreement dated February 11, 2010, the EBRD with a 4% share is one of the largest KAMAZ shareholders.

The representatives of the EBRD met with Sergey Kogogin, Director General of OJSC KAMAZ, and Elena Milinova, CFO of OJSC KAMAZ. The participants of the meeting discussed this year’s market slowdown and shared their expectations for the nearest future. Sergey Kogogin told about a cost reduction program which helped minimize losses during a sales decline. He also presented a new model range of vehicles the production of which will be launched next year. In his turn, President of the EBRD noted that he was impressed with changes in labour productivity at KAMAZ and efficient solutions in the Production System KAMAZ.

The members of the delegation conducted negotiations with Timur Nuriakhmetov, General Director of the Russian-Italian joint venture producing agricultural equipment – CNH-KAMAZ Industrial. The negotiators discussed problems of the modern Russian market of agricultural equipment and the JV’s further development. After that, the guests visited a cab assembly conveyor, and also the mother assembly line of the automobile plant of KAMAZ.

The European Bank for Reconstruction and Development is an international financial organization which invests in projects in 34 countries from Central Europe to Central Asia and attracts large amounts of foreign direct investment.