Russia's AvtoVAZ, Renault, Nissan Want To Pool Purchasing
September 18 2009 - 5:30AM
Dow Jones News
Struggling Russian automotive group AvtoVAZ (AVAZ.RS) plans to
form a joint purchasing unit with its core shareholder Renault SA
(RNO.FR) and Japan's Nissan Motor Co. (7201.FR) in a bid to reduce
costs, a Renault spokesman said Friday.
Renault and Nissan have pooled their purchasing for many years
as part of the Renault Nissan alliance that is cemented by
cross-shareholdings. Renault owns 44.3% of Nissan while Nissan has
a 15% interest in Renault.
A joint venture, Renault Nissan Purchasing Organisation (RNPO),
is responsible for all of the duo's purchases.
Renault has a 25% shareholding in AvtoVAZ.
-By David Pearson, Dow Jones Newswires; +331 4017 1740,
david.pearson@dowjones.com