Palfinger starts JVs in Russia

Palfinger and Russian truck manufacturer Kamaz have started production following the agreement to form two Russian joint venture companies last August – see: Palfinger and Kamaz form JVs.

Based in Naberezhnye Chelny, Tatarstan, the first joint venture - Crane Center Kamaz - will focus on mounting loading and handling systems on truck chassis. Kamaz holds a 51 percent controlling stake, while Palfinger holds the remaining 49 percent. The two companies have set a target of delivering 3,000 truck bodies a year by 2019.

In the second joint venture - Palfinger Kamaz Cylinders - Palfinger holds a 51 percent stake in Kamaz’s existing cylinder production operations in Neftekamsk, in the region of Bashkortostan. By 2019, the companies are aiming to boost the volume of cylinders to 80,000 a year for cranes, trucks and building machinery. (Source: Vertikal.net)