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MAZ-MAN is interested in exports to the European Union but is deterred by the 27-nation bloc’s high import duty on vehicles, Alyaksandr Kartynnik, director of the truck manufacturer, told a group of visiting foreign reporters in Minsk last week.
The executive noted that the company had business partners in 11 European countries, including Austria, Germany, Italy, Poland, Sweden and the UK, the Agency of Business Relations reported.
The company’s revenues jumped from $9 million in 2003 to $65 million this year, while the output of trucks more than doubled to 350 units, Mr. Kartynnik said.
The company, an official dealer of MAN AG, is expected to sell at least 400 MAN trucks and no fewer than 100 Krone semi-trailers to Belarusian customers in 2008, he said.
MAZ-MAN exports half of its output, mainly to Russia and other CIS countries, according to Mr. Kartynnik.
Speaking about the possible consequences of the global financial crisis for the Belarusian-based company, the executive noted that customers were facing tougher terms of loans taken for purchasing MAZ-MAN vehicles, which he said could hit the company’s sales.
MAZ-MAN was founded in 1998 by Germany’s MAN Nutsfahrzeuge AG, the Belarusian Automobile Factory (MAZ), and Belarus’ Lada OMS Holding. Austria’s II&V GmbH currently holds a 48.2-percent stake in the company, whereas 44.43 percent belongs to MAZ, and 7.37 percent to Belarus’ Trastbank. //BelaPAN