Bank Of Baku

Russian automaker resume assembly line

Russian automaker resume assembly line
# 09 February 2009 12:04 (UTC +04:00)
Baku. Nijat Mustafayev – APA-Economics. Russian carmaker AvtoVAZ has resumed its assembly line after a halt on Friday due to difficulties with parts suppliers.
"The assembly line has started to work normally. The working shift began at 7 a.m. local time [3:00 GMT]. Negotiations with suppliers of auto parts have been completed," the spokesperson said.
AvtoVAZ, in which Renault owns a 25 percent stake, decided from February to pay suppliers with a mixture of 70 percent promissory notes and 30 percent cash.
AvtoVAZ, which was selling 50,000-60,000 cars per month before the crisis, sold 30,000 vehicles in January.
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THE OPERATION IS BEING PERFORMED