PRESS: Almaz-Antey may want to get Toyota's St Petersburg plant

MOSCOW, Mar 17 (PRIME) -- Executives of Almaz-Antey were present during prosecutor’s checks of Toyota's plant in St. Petersburg, which may point to their interest in its acquisition, business daily Kommersant reported on Friday citing sources.

On Thursday, Industry and Trade Minister Denis Manturov said that the government was working on a transfer of the facility to the Central Scientific Research Automobile and Automotive Engines Institute (NAMI). According to Kommersant's sources, the NAMI has no plans to produce cars at the plant and will pass it to a company.

The plant suspended operations last March, while in September the company said it will close it because component parts supplies were impossible.

"According to Kommersant, Almaz-Antey, working on the e-Neva electric crossover, may be one of the interested sides, with its executives present at prosecutors’ checks of the Toyota plant at the end of 2022," the newspaper said.

A source said that Almaz-Antey does not need the plant to produce e-Neva, because it is at an early stage of development, and its serial production will not start will any time soon.

AvtoVAZ CEO Maxim Sokolov said that integration of his company into the Toyota plant is unreasonable but cannot be ruled out.

"I see no need so far given the spare capacities at AvtoVAZ and control over the market sector, in which AvtoVAZ traditionally works, and prospects of exports of class C and B to the foreign markets, including production of the plant in St. Petersburg, -- I see no need to involve extra capacities," he said.

Sokolov said that if AvtoVAZ’ top management creates integration plans that will be approved by the management board, they will be sent to the board of directors headed by Manturov.

Kamaz told Kommersant it was not interested in the deal.

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