Source Pravda.Ru

KamAZ Truck Producer Fast Entering Iraqi Market, yet Prepared for Losses

The administration of the KamAZ automobile plant is prepared for complications that may result from the possible war in Iraq early next year. This is according to Ildar Khalikov, KamAZ' Deputy General Director responsible for finances. Mr. Khalikov said that 'Having been fast entering the Iraqi market, KamAZ' sales department sold 2,500 vehicles in 2002. Sales plans for 2003 are conservative, taking into account the possible interruption of the shipping of trucks'. However, the administration of the plant hopes that there may be no military action against Iraq.

According to the plant's press service, KamAZ hopes to offset its possible losses in case of a war in Iraq by extending its sales elsewhere, including to new clients. Vietnam and Kazakhstan will remain the leading buyers of KamAZ vehicles. China's economy developing steadily, that country also may become a market for the sale of the trucks. However, there KamAZ will encounter competition on the part of Western producers. Mr. Khalikov concluded by saying that 'Despite exceptionally complicated market conditions, KamAZ concludes this year with a positive balance'. The net profit of the company, in 2002, may amount to USD 2.4 million.

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