GAZ Group
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| Industry | Automotive |
|---|---|
| Founded | 2005 |
| Headquarters | Nizhny Novgorod, Russia |
| Products | Trucks & Buses |
| Parent | Russian Machines Corporation |
| Website | www.gazgroup.ru |
GAZ Group, Headquartered in Nizhny Novgorod, is a Russian automotive conglomerate which comprises 18 manufacturing facilities in eight regions of Russia, as well as sales and service organizations. GAZ Group produces light and medium commercial vehicles, heavy trucks, buses, cars, road construction equipment, power units and automotive components. The main entity "GAZ Group" - OJSC "GAZ", refers to the Office "Management Company" GAZ Group. The "GAZ Group" is a holding company, consolidated around OAO GAZ, bringing together a number of industrial machinery sector, which are mainly subsidiaries of OJSC GAZ.
Management Company GAZ Group was created on September 28, 2006 and is 100% owned by OJSC "GAZ".
GAZ Group was founded in 2005 as a result of the restructuring of the production assets of Ruspromavto, which existed from 2001.
In August 2006, Gaz Group's military technology enterprises JSC Arzamas Machine-Building Plant, in Viksa, and JSC Barnaultransmash became the independent Military Industrial Company to ensure the separation of automotive business of Russian Machines into public (GAZ Group) and non-public (Military-Industrial Company) assets.
In the summer of 2006 "GAZ Group" acquired UK based manufacturer of light trucks LDV Holdings (Birmingham) for $40,670,000. In the spring of 2009 in connection with the marketing of the crisis caused by, including the global economic crisis, LDV Holdings came under bankruptcy and in early May 2009, GAZ Group agreed to sell the company Malaysian carmaker Weststar.
In 2008, "GAZ Group" has agreed to buy 50% of Italian VM Motori and localization of its engines. Closing of the transaction was to take place after the approval of the antitrust authorities. GAZ Group has also entered into an agreement with General Motors who controlled 50% of VM Motori on the basis of co-ownership of the Italian company. In mid-2009, the deal was canceled in the aftermath of the economic crisis.
The joint stock company is managed by the Board of Directors whose Chairman, Mr. Wolf, is the sole executive body is the Management Company GAZ Group.
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