KAMAZ consolidated 100% of the joint venture with the German ZF for the production of gearboxes

On November 9th, KAMAZ PJSC consolidated 100% of the shares of the Russian joint venture with the German concern ZF Friedrichshafen AG - ZF Kama LLC, follows from the data of the Unified State Register of Legal Entities. Until the beginning of November, ZF owned 51% of the shares in the joint venture, the rest 49% were owned by KAMAZ. The terms of the deal on the consolidation of the joint venture in KAMAZ are not disclosed, by noting that despite the decision made by the partner, the enterprise is operating as planned and fully meets the needs of KAMAZ. The joint venture "ZF Kama" was established in January 2005.

This is the first production facility created at KAMAZ with the participation of a foreign company and producing products under its trademark. ZF Kama produces 9- and 16-speed manual transmissions Ecomid and Ecosplit, which can be used to complete power units with power from 160 to 500 hp. In the spring of 2021, the joint venture received a preferential loan from the Industrial Development Fund in the amount of 500 million rubles for the localization of 12-speed automated transmissions of the Traxon series for vehicles for various purposes. Recall that at the end of June, KAMAZ consolidated a 100% stake in a joint venture with the German concern Knorr-Bremse for the production of brake systems - Knorr Bremse Kama LLC, which the parties owned on a parity basis. The company, which has been operating in Naberezhnye Chelny since 2007, was renamed KAMAZ Brake Systems LLC (KTS). KAMAZ is the largest Russian manufacturer of trucks with a GVW of 14-40 tons. After the start of the military operation on the territory of Ukraine, the company found itself under the sanctions of the EU, Great Britain and the United States, as well as Australia, Canada, New Zealand and Switzerland. Under the sanctions of Great Britain and the United States there is also the main shareholder of KAMAZ - the state corporation Rostech (47.1%). Also among the largest shareholders of KAMAZ is the German Daimler Truck, its share is 15%.

As the financial director of Mercedes-Benz Harald Wilhelm told Reuters, despite the withdrawal of the Mercedes-Benz brand from Russia and the sale of all assets, the German share in KAMAZ will remain. The fact is that back in October 2021, Daimler AG concern was divided into two independent companies - the passenger car Mercedes-Benz Group AG and the truck Daimler Trucks. It is the latter that owns a 15 percent stake in the Russian KAMAZ, and the departure of the Mercedes-Benz passenger car from the country did not affect this state of affairs in any way.