Support The Moscow Times!

Austria's Palfinger Sets Up Joint Ventures With Russia's KamAZ

Austrian crane maker Palfinger has agreed with Russian truck maker KamAZ to set up two joint ventures in Russia this year, pending regulatory approvals.

Palfinger will hold 49 percent of one venture to equip trucks with loading and handling systems. "The objective is to deliver more than 3,000 truck bodies per year by 2019," it said in a statement Tuesday. Palfinger will own 51 percent of another venture that aims to build 80,000 cylinders for cranes, trucks and building machinery by 2019.

Chief Executive Herbert Ortner called the deals "a very important step in securing and expanding our business in CIS. This region has already become a highly important market for Palfinger and, in line with our strategy, we intend to expand local production and intensify on-site value creation."

See also:

State Steps In to Save Russian Truck Maker KamAZ From Collapsing Auto Market

Sign up for our free weekly newsletter

Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview
Subscribers agree to the Privacy Policy

A Message from The Moscow Times:

Dear readers,

We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."

These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.

We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.

By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more