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Hyundai is among some firms that seek to snap up Ford automobile plants slated for closure in Russia and within a month or two the fate of these facilities will have to be decided on, Minister of Industry and Trade Denis Manturov told reporters on Friday.
"The issue probably requires further consideration. Let’s give it time, so as not to overshadow future events. I believe, our colleagues will decide within a month or two," the minister said.
"Among others," Manturov said, responding to a question on whether Hyundai is among the companies eyeing these automobile plants.
It was reported in late March that Ford would halt automobile production in Russia by the end of June. Two automobile plants in Vsevolozhsk and Naberezhnye Chelny, as well as the engine plant in Alabuga in Tatarstan will be closed. Ford and Sollers would set up a renewed joint venture based on the latter’s facility, in which Sollers will gain a 51% stake. The JV will produce and sell Ford Transit vehicles.
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