GAZ Group and Terex Corp. will create a joint venture of road construction vehicles in Russia

�GAZ Group and Terex Corporation signed an agreement about joint venture creation of road construction vehicles production in Russia. The joint venture will announce the concrete products of Terex, which will be launched into production in the nearest future. The production is planned to be organized in the following plants of GAZ Group: �Tverskoy ekskavator�, �Bryansky arsenal�, �Chelyabinskie stroitelno-dorozhnye machiny� and �Zavolzhsky zavod gusechnych tyagachei�.
New joint venture will produce, promote and sell some types of road construction vehicles Terex and all road construction vehicles of GAZ Group in Russia and also it will distribute road construction vehicles Terex in Russia, which were produced abroad. The joint venture will also sell some types of road construction vehicles of GAZ Group in the export markets.
GAZ Group will present the production sites and personnel resources and also the possibilities of dealer network of division �Special vehicles�. The joint venture will provide the access to the technologies and know-how that will permit to upgrade the existing product portfolio of division �Special vehicles� of GAZ Group. It is expected that the joint venture will start the work at the beginning of 2012.
As the general manager of company �Bazovy element�, the main shareholder of GAZ Group, Oleg Deripaska, remarked, the creation of joint venture of GAZ Group and Terex will permit to increase and to upgrade the product line of road construction vehicles, which is offered to Russian and foreign consumers and it will provide the possibility of growth for both companies in the terms of quick development of infrastructure construction in Russia.