MAN Nutzfahrzeuge and UzAvtosanoat found joint venture in Uzbekistan
Tashkent, Uzbekistan (UzDaily.com) --
On 4 September 2009, Hakan Samuelsson, Chairman of the Executive Board of MAN SE, and Ulugbek Rozukulov, Deputy Prime Minister and Chairman of the Supervisory Board of UzAvtosanoat, signed the agreements on founding the joint venture company "JV MAN AUTO-Uzbekistan" in Tashkent, Uzbekistan.
MAN Nutzfahrzeuge holds 49% of shares in the joint venture, while UzAvtosanoat holds 51% and thus bears responsibility for management of the new company, German company said in a statement.
The joint venture will import components for heavy trucks from the MAN TGA and CLA ranges from Germany and India respectively into Uzbekistan, where they will be assembled. Production of 500 to 1,000 vehicles per year is planned. The trucks will be sold and serviced via a network of independent dealers.
"We are pleased to have found in UzAvtosanoat a partner who knows the markets of central Asia well and is competent in the production and sale of commercial vehicles. For MAN this commitment in Uzbekistan is a further example of our international presence in new markets", said Hakan Samuelsson at the signing of the agreements. He went on to add that partnerships in economically thriving regions are essential to MAN’s future alignment.
The Republic of Uzebkistan is aiming to spur on the expansion of its own transport industry. "We are firmly convinced that our partnership with MAN will be successful. MAN’s technologically mature and robust vehicles exactly match the demands of customers in Uzbekistan and surrounding markets. Central Asia’s markets are buoyant," said Ulugbek Rozukulov, underlining the prospects for the JV MAN AUTO-Uzbekistan joint venture.