26 September 2011
Bogdan Corporation, owner of Bogdan Motors (UX: LUAZ UK, U/R), plans to continue producing small buses, Interfax reported on Friday, citing CEO Oleg Svinarchuk. The company currently makes two Hyundai buses per day but is planning to increase that figure to eight per day, which would bring its annual output to 2 ths buses. Vitaly Gorovoy: Bogdan Corporation sold its controlling stake in Cherkasy Bus (its main producer of small buses; 2010 output at that plant was 733 buses) to Easy Life, which is affiliated with Prominvestbank, one of Bogdan Corporation’s lenders in March 2011. Bogdan’s production facilities allow it to make 150 ths passenger cars, 15 ths commercial cars and 9 ths buses p.a. However, the company manufactured only 13.6 ths passenger cars, 339 commercial cars and 38 buses in 8M11.