Renault Trucks signs letter of intent covering engine production in Russia
AB Volvo’s subsidiary Renault Trucks has signed a letter of intent with the Russian automotive group RusPromAuto concerning engine manufacturing. Under the terms of this agreement the RusPromAuto Group would be able to manufacture Renault Trucks dCi type of engines under license in Russia.
RusPromAuto is a Russian automotive group whose operations comprise production of trucks, buses, construction equipment and passenger cars and the intention is to use Renault Trucks’ dCi engines in the group’s various vehicles. The draft agreement also makes provision for RusPromAuto to acquire some of the equipment used for manufacturing of the engines. Furthermore, Renault Trucks will place its tooling at RusPromAuto’s disposal and provide it with the technical assistance and training required. The engines will be produced in Russia by Auto Diesel, a subsidiary within RusPromAuto’s Engine Division. A final agreement is expected to be reached in spring 2006. February 8, 2006 For further information, please contact Mårten Wikforss, +46 31 66 11 27 or +46 705 59 11 49