BMW plans to step up its operations in Russia

Article Abstract:

Germany's Bayerische Motoren Werke AG (BMW) intends to invest in its automobile assembly facilities in the former Soviet Union. In partnership with Avototor, BMW will spend $70.3 million to upgrade facilities located in Kaliningrad. The production goal has been set at 10,000 units per year. The current unstable condition of the Russian economy demonstrates BMW's commitment to its foreign operation. The company is upgrading at a time when local currency is cheap. However, it will likely be several years before the investment pays off.

Comment:

BMW to invest in its facilities in the former Soviet Union.

Foreign operations, Germany, Russia, BMW AG

France plans to slash its stake in Renault

Article Abstract:

The government of France is planning to reduce its share in Renault S.A. to under 25% from its current holding of 44%. The move will bolster a cross-shareholding deal with Nissan Motor Co.

Fiat begins talks to buy Irisbus stake from Renault

Article Abstract:

Fiat SpA's Iveco division is engaged in negotiations to acquire Renault SA's Irisbus stake. Renault owns 50% of Irisbus.

Italy, Iveco, Irisbus