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Gaz, AvtoVAZ set for auto parts output with foreign cos.

MOSCOW, April 28 (RIA Novosti) - Russia's largest auto makers Gaz and AvtoVAZ intend to establish a holding company with leading foreign companies to produce auto parts and components, the chief executive of Russia's state arms seller Rosoboronexport said Friday.

"We are holding negotiations with Mr Deripaska [the owner of Gaz Group] on the establishment of the holding company. During the year, a decision will be made," said Sergei Chemezov who is also chairman of the Union of Russia's Machine-Building Enterprises.

Chemezov said a blocking interest of 50% plus one share in the new holding will stay in Russia.

"There is no talk about the transfer of the blocking package of shares to foreign companies. It must stay in Russia," Chemezov said.

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