LuAZ Posts Impressive 2004 Results
7 June 2008
The company increased net revenues by 195% in 2004 to USD 160mn, while net income grew by 183% to USD 5.6mn. Output grew by 91.8% in 2004 to 21,928 automobiles. Bogdan Holding, which includes LuAZ, announced that it will transfer the assembly of LuAZ cars to a new plant in Cherkasy, which will be built during 2005-2007. A total of USD 45.3 mn will be invested to re-equip LuAZ to begin bus production by 2008. Output is planned at 6,000 buses per year.
