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Ford and Sollars to Create a Joint Venture
9.06.2011 14:23
Ford and Sollars to Create a Joint Venture

Russian second-biggest automaker Sollers and Ford Motor signed an agreement to establish a joint venture and car producing in Russia.
       According to Vadim Shvetsov, Sollers Chief Executive Officer, the production may reach 350 000 cars a year in 2015, he added, that Sollers ans Ford will also build a new factory to make about 200 000 car engines a year. Companies also collaborate with Vnesheconombank to have a long-term financing of 1,4 billion dollars for the project.
       "Ford Sollers will help to build the Ford brand in Russia and support profitable growth, while also strengthening the Russian automotive industry and its local supply base," said Stephen Odell, Ford of Europe chairman and CEO.

Author: Ksenia Dzhalagonia

Tags: Russian business Russian companies agreement   

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