Russian President Vladimir Putin has given German automotive and industrial supplier Schaeffler the green light to sell its Russian activities.
Schaeffler could then transfer the system to PromAvtoConsult, according to a statement published by the Kremlin on Monday. Austrian entrepreneur Siegfried Wolf is behind PromAvtoConsult. According to previous information, the purchase price for the Ulyanovsk plant is ten million euros.
Wolf sits on the supervisory board of Schaeffler and heads the supervisory board of the automotive supplier Vitesco, which was acquired by Schaeffler. From 2010 to 2019 he was chairman of the supervisory board of the Russian GAZ Group. Wolf also owns the former MAN factory in Steyr in Upper Austria, which is now called Steyr Automotive.
The purchasing interest was announced in March
Wolf’s interest in buying the Ulyanovsk factory became known in March this year. According to the then report “Spiegel”, the contract was signed in December 2022.
Suspected ties to Russian oligarch Oleg Deripaska and the fact that the factory supports the production of a transporter model to be used by the Russian military for its logistics attracted criticism.
Kalina told the APA at the time that Wolf deeply condemned Russia’s war in Ukraine and had therefore halted his activities in Russia. Moreover, he does not do business with people affected by international sanctions. The investor also pays attention to this when considering a possible purchase of the Schaeffler factory.
Kalina also rejected the claim that military equipment was produced at the Russian factory. This is a vehicle used in agriculture. The spokesperson said in March that it would be unthinkable for Wolf to participate in arms transactions.
Source: Krone
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