03 June 2004 23:22
Renault sets up new subsidiary for Logan project
PARIS. June 3 (Interfax) - Renault has established a new subsidiary -AFM Industry, for its Logan production project
in Russia, Jean Michel Jalinier, the general director of Avtoframos, which represents Renault in Russia, told
Interfax.
AFM Industry will receive part of the equipment necessary to produce the Logan, a new Renault model, which Avtoframos
will start producing in mid-2005.
It is impossible to transfer all the equipment directly to Avtoframos because of legislative restrictions on
increasing charter capital in Avtoframos, which is jointly owned by Renault and the Moscow government. [RU ASIA EUROPE
EEU EMRG AUT FR] me
[Interfax] |
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