MOSCOW, November 22 (RIA Novosti) - Russian truck manufacturer KAMAZ and Germany's ZF Friedrichshafen AG will launch a joint venture to produce automobile components in Naberezhnye Chelny in the Volga region on November 23, the KAMAZ press service said Tuesday.
ZF Friedrichshafen and KAMAZ own 51% and 49% respectively in the joint venture named ZF-Kama. The enterprise is expected to produce up to 10,000 gearboxes a year, and in the future to manufacture axles and transfer boxes.
The companies also plan to begin joint production of clutch mechanisms and reduction units for ZF 4x4 vehicles.
ZF Friedrichshafen AG is one of the world's leading suppliers in the automotive industry. With turnover of 8.9 billion euros in 2003, the company was rated the third largest German supplier. In 2004, its turnover reached 9.9 billion euros.
