AvtoKrAZ To Boost Sales Through Creation of KrAZ Leasing
17 July 2008
AvtoKrAZ (KRAZ: HOLD) announced yesterday that it had created a spinoff company, KrAZ Leasing. KrAZ Leasing will lease KrAZ passenger cars, railroad freight cars and equipment. Leases will be offered for 12 to 60 months with a down payment of 10-20% and offer rates of 8-15% annually. AvtoKrAZ expects KrAZ Leasing to help the company to increase sales in Ukraine by 30% in 2008 compared to 2006 when it sold about 1 ths cars.
