News & Events in Belarus

Belarus interested in MAZ-KamAZ alliance

MINSK, 16 May (BelTA) – Belarus is interested in setting up an alliance of Minsk Automobile Plant (MAZ) and the Russian mechanical engineering company KamAZ on mutually beneficial terms, First Vice Premier of Belarus Vladimir Semashko told the plenary session of the Belarusian Industrial Forum on 16 May.

The First Vice Premier said that a session of the Council of Ministers will table prospects of combining MAZ and KamAZ into the holding company Rosbelavto as well as partnership between the two industry giants. “Then we will have something to suggest,” he said. Now the sides are in talks. “The negotiations are not simple because we have different views: the seller wants a high price while the buyer wants a low one,” added Vladimir Semashko.

Asked whether Belarus is ready to hand over the controlling interest in MAZ to the holding company Rosbelavto, the government official stressed Belarus was not ready for now. “We are ready to enter an alliance with KamAZ. It would be beneficial for both sides because the synergy would produce a positive effect. Both sides would benefit from it,” he added.

The official pointed out progress in negotiations on combining MAZ and KamAZ into a holding company. “While we had a million questions at the first stage of the negotiations in January 2011, now we have only a couple of questions left. I think we will find a solution to set up an alliance in the shape of the holding company because we are not enemies but partners,” said Vladimir Semashko.

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