Rostselmash sold a stake in the American company Buhler Industries – Kommersant
[ad_1]
Rostselmash has completely withdrawn from the assets of the American enterprise Buhler Industries, reported press service companies. The owner of 96.7% of all shares was the Turkish tractor manufacturer Basak Traktor. The transaction amount is not disclosed.
Who owns the remaining stake in the American company is not specified in the press release. Kommersant sent a request to Rostselmash. In 2007, Rostselmash spent $143.3 million to purchase 80% of the plant’s shares. At that time, the company’s assets were located in Canada. However, after tightening sanctions against Russia in 2015, the company decided to move part of its capacity to the Rostov region. Thus, Versatile tractors could fall under the state program of preferential leasing of agricultural machinery, and manufacturers had the opportunity to count on 15–25% of the cost of the equipment. In addition, it was not practical to leave production in Canada, since Versatile equipment was not in sufficient demand there.
Now Rostselmash is building its own plant for the production of tractors. Construction began in 2021 and is nearing completion today. It is expected that the new enterprise will be able to produce 10–15 cars per shift on different conveyors.
[ad_2]
Source link
