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Iveco brings the Daily to Russia with Samotlor-NN

2nd July 2007 Print
Iveco, a Fiat Group company, and the industrial group Samotlor-NN, one of the major Russian bodybuilders, have signed an industrial agreement that precedes the start of a joint venture, 51 per cent of which will be held by Iveco.

The agreement will see the production of Iveco’s Daily light commercial vehicle range in Russia – particularly models used for the transport of goods, as well as minibuses and ambulances.

The partnership sets out a programme of progressive localisation of industrial activities in the Nizhniy Novgorod area that will lead, in the medium-term, to an annual production capacity of 25,000 units per year, with models up to 6.5 tonnes gross vehicle weight. An investment of approximately 50 million Euros is foreseen, funded by the shareholders.

The products, branded Iveco, will be primarily marketed in Russia and other Commonwealth of Independent States (former Soviet Republics) via the distribution networks of Iveco and Samotlor-NN.

“The co-operation with a vehicle manufacturer such as Iveco gives us the opportunity to develop competitive, high quality and leading-edge technological products for the Russian market,” says Mr Nikolay Sandugey, Chief Executive Officer of Samotlor-NN. “The integration of our customer-oriented solutions with the Iveco technologies, including the local production of components which will reduce the product cost, will lead to a very competitive vehicle range.”

Chief Executive Officer of Iveco, Paolo Monferino, adds: “The partnership with Samotlor-NN in Russia is a further step to consolidate the presence of the Fiat Group in an important and high potential market. This is another step forward in our globalisation strategy, and a further achievement of our outstanding development in Central and Eastern Europe.”