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RUSSIA-KYRGYZSTAN-ENERGY-AGREEMENT
Russia, Kyrgyzstan sign agreement on energy cooperation worth $1.5 bln
BISHKEK, Mar 28, 2019 (BSS/TASS) – Shareholders of Ford Sollers joint
venture reached an agreement on restructuring of the joint venture, which
will focus in future on the light commercial vehicles segment, according to
the press release of the company.
“Business restructuring contemplates completion of cars production by the
end of June 2019 with subsequent closing of two automobile plants of Ford
Sollers in Naberezhnye Chelny and Vsevolozhsk, and the engine plant in
Alabuga Special Economic Zone,” the statement says.
The company noted that these measures will lead to a significant staff
reduction, which will be carried out primarily under the program of voluntary
dismissal with the payment of additional compensation.
Ford Sollers and partners continue negotiations concerning further action
required for the business restructuring.
In 2018, sales of Ford Mondeo and Ford Focus, which are produced at the
Vsevolozhsk plant, declined by 21.9% and 4.6%, respectively, in comparison
with 2017 to 2,203 and 14,388 cars.
Selling plant in Leningrad region
Ford Sollers is in talks on selling the plant in Vsevolzhsk of the
Leningrad region, a representative of the company told TASS.
“We are in talks on selling the capacities of the plant in Vsevolzhsk,
there are parties concerned. But so far it is early to speak about concrete
agreements,” the representative said.
Ford Sollers is a joint venture that was established by the Ford Motor
Company and Sollers on parity basis in October 2011. The company produces
Ford Focus and Ford Mondeo in Vsevolozhsk, Ford Fiesta and Ford Ecosport in
Naberezhnye Chelny, as well as Ford Kuga, Ford Explorer and Ford Transit in
Yelabuga (Russia’s republic of Tatarstan).
BSS/TASS/HR/1500