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AvtoKrAZ Continues Fight For Ownership Of 76% Stake In Luganskteplovoz.

AvtoKrAZ Continues Fight For Ownership Of 76% Stake In Luganskteplovoz.

25 October 2008

In September of 2001, AvtoKrAZ (KRAZ:BUY) was the only company that attempted to participate in Luganskteplovoz’s privatization, but the State Property Fund (SPF) refused to register it as industrial investor and announced no winner. Concorde Capital: Even though AvtoKraz has been contesting the SPF’s ruling in court for four years, the company says if a new contest is announced it will bid for the company.  AvtoKraz intends to include Luganskteplovoz in its machine-building concern, which already consists of truck-maker KrAZ, Stakhanovsky carriage-production plant and a gas turbine producer, Uzhgorodsky Turbogaz.

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