Daimler plans to acquire stake in Russian truck maker Kamaz

29 July 2008

As part of its growth strategy for the BRIC countries (Brazil, Russia, India and China), Daimler Trucks is currently examining various possibilities for entering the Russian truck market, which is the biggest in Europe.

The German automaker is studying the possibility of acquiring a stake in the Russian truck manufacturer Kamaz, which would enable the two companies to combine their development, production, and sales expertise.

Daimler would bring in the technological know-how of the global industry leader, while Kamaz has the production facilities, sales structures, and a good network in Russia.

Daimler is also looking at options of building a new factory for local assembly of Daimler Trucks in Russia.

In the second quarter of 2008, Daimler had started negotiations with the investment company Troika Dialo'', which wants to sell its 42-per cent stake in Kamaz. In the bidding process that involved diverse Western OEMs, Daimler emerged as the exclusive negotiating partner. Shortly after that Daimler started a due diligence in order to evaluate all relevant factors for a possible company participation.

A final decision on Daimler Trucks' strategy for Russia is expected to be made by the end of this year.