Semashko: MAZ, KAMAZ will be incorporated into a holding company

        MAZ and KAMAZ will be integrated by means of creating a Belarus-Russia holding company that will be responsible for trust management of shares of these companies. The sale or the change of owner are out of the question, First Deputy Premier of Belarus Vladimir Semashko told reporters after the closing ceremony of the Belarusian Industrial Forum 2013.
      Speaking about the project, Vladimir Semashko referred to the arrangements reached at the talks with Deputy Premier of Russia Arkady Dvorkovich that concluded in Moscow.
According to him, the establishment of the holding company will allow reinforcing the potential, especially export capacities, of the two automobile industry giants. The unification of designing, manufacturing and marketing capacities will result in a greater economic efficiency of MAZ and KAMAZ. It will also help cut down on costs, thus enhancing their competitiveness on the market of the Single Economic Space of Belarus, Kazakhstan and Russia. 
      Speaking about the timeframe of the companies’ integration, Vladimir Semashko informed that during a month the parties will work on the establishment of the holding company, elaborate its regulations and the agreement on the transfer of the shares to the trust management of the holding company.