Intro: Avtoframos was founded in 1998 as a joint venture equally-owned by Renault and the City of Moscow. To date, Renault has made a cash contribution of USD106.5 million to the company, with the city authorities contributing USD70.4 million in assets (mainly land). Following the recent capital increase on October 11, 2002 Renault's stake now stands at 62%, with 38% in the hands of the city authorities. Equity stakes will change as a result of capital increases required to finance investments.
The plant is now being upgraded. Production of the Renault Logan will commence in the Spring of 2005 with prices ranging from USD 8999-12999. |
