Ministry of Industry and Trade: Volvo assets in the Russian Federation were received by a Russian investor

The Ministry of Industry and Trade of the Russian Federation identified a Russian investor to whom local assets were transferred Volvo, as well as a partner for the development of an automobile plant in Kaluga. The press service of the department reported this.

“Assets of the auto concern Volvo in Russia were transferred to a Russian investor. The Russian Ministry of Industry and Trade, together with the new owner, has also identified a domestic partner for the further development of production at the concern’s Kaluga site, and work continues to restart it as soon as possible,” – leads Interfax message.

Volvo’s Russian assets include welding and painting plants for cabs, as well as the assembly of trucks with a capacity of 15,000 units of equipment per year in Kaluga and four service centers for their maintenance in different cities of the country.

The Volvo Group was considering various options for optimizing its business in Russia, including its complete or partial sale, Vedomosti previously wrote. In October last year, the company said that it could not conduct operations in the current situation, “so a decision was made to adapt the business and begin reducing the number of employees.”

In July, Russian Prime Minister Mikhail Mishustin toldthat car factory Volvo a number of investors are interested and are knocking on the door of the Ministry of Industry and Trade. Prime Minister of Belarus Roman Golovchenko then announced Minsk’s interest in this asset, but Mishustin advised the Belarusian minister to communicate with his Russian colleagues, since “there are already definite decisions” regarding the plant in Kaluga. In June on SPIEF Governor of the Kaluga Region Vladislav Shapsha pointed out There is also interest in the plant from Chinese companies.