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launch of the facility is a difficult task. Of course, it is very important for us that the facility starts operating at least at the design capacity in the second quarter of the next year." Finland's tire producer Nokian Tyres signed a deal to sell its Russian assets to Tatneft for about 400mn euros without debt on October 28.
Russian carmaker Sollers has closed the acquisition of Mazda’s 50% stake in a Vladivostok-based joint venture (JV), a spokesperson for the company told PRIME on December 16. Sollers said in November that it planned to buy the stake from the partner for 1 euro and to start production of a new model range at the facility in 2023. Mazda assessed the losses at 12bn Japanese yens, or $82mn.
The Chinese state automaker BAIC (Beijing Automotive Industry Holding Co.) and the Russian Avtotor agree to assemble cars in Kaliningrad. Two sources told Vedomosti about this - a consultant working with the Chinese auto industry in Russia, and a top manager of one of the car factories in the CIS. Avtotor is preparing to launch the production of new brands of cars and is cooperating with several new partners, whom we cannot name yet due to confidentiality requirements,” a company representative told Vedomosti. BAIC is one of the oldest automakers in China, founded in 1958. It is one of the top 10 automakers in China. Its cargo division, Foton, is cooperating with the GAZ group on the Valdai Next medium-duty van project. In particular, a cabin from the Chinese Foton Ollin CTS van is installed on a commercial vehicle.
Russian auto manufacturer, Avtovaz, will manage the St. Petersburg-based facility of Nissan, whose assets in Russia passed into the ownership of FSUE NAMI (the State Research Center of the Russian Federation) earlier, Russia’s Deputy Prime Minister, Industry and Trade Minister Denis Manturov told reporters. The car market is expected to demonstrate better results in the future, as production rates in the country are going to climb, he added.
9.2.3 Aviation corporate news
Airbus will halt its reliance on Russia for titanium supplies within months, a senior executive said late on December 2. Russia is the largest producer of titanium, a strategic metal prized for its strength relative to its weight. It is used mainly in aircraft engines and landing gear for large planes. "We are in the process of decoupling from Russia when it comes to titanium. It will be a matter of months not years," Michael Schoellhorn, chief executive Airbus Defence & Space, said. "I cannot give you a precise date; it is a relatively complex process with certification and everything else that aviation calls for, but it will happen," the former Airbus operations chief told a company sustainability briefing. The European Union has so far avoided banning Russian commodities other than steel and coal, while titanium remains exempt from restrictions. Russian financial group Finam told PRIME that local producer
161 RUSSIA Country Report January 2023 www.intellinews.com