Russian min says Kamaz, MAZ merger not relevant anymore

MINSK, Feb 29 (PRIME) -- Talks over integration of Russian and Belarusian truck makers Kamaz and MAZ are not relevant anymore, Russian Industry and Trade Minister Denis Manturov said on February 28.

In 2012, Russia and Belarus agreed on five integration projects encompassing privatization of Belarusian enterprises, creation of joint ventures, investments and unified sales policy, including plans to create an alliance of MAZ and Kamaz. The sides initially discussed plans to swap shares of the companies and then decided to create a joint venture based on MAZ and Kamaz.

“This has actually lost its relevance, because the process has lingered,” Manturov said.

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