Bogdan Buys KrymavtoGAZ Assembly Plant.

Bogdan Corporation, the automotive holding controlled by Petro Poroshenko which owns Lutsk Automobile (LUAZ) and Cherkasy Bus, paid $7m to acquire an assembly complex from bankrupt KrymavtoGAZ, which assembled Russian GAZ models including the Gazel, Sobol and Volga. Bogdan said it planned to open a service center on the site, but gave no details on production plans. KrymavtoGAZ’s plant had a capacity of 1.5-2 ths automobiles per month. KrymavtoGAZ was declared bankrupt last October after GAZ began demanding pre-payment for kits. Olha Pankiv: The extra capacity will help Bogdan keep up with growing demand for automobiles. Bogdan already increased its production of cars in 1H06 by 87% yoy.