On October 5, 1998 in Kaliningrad Vagit Alekperov, President of LUKOIL, and Vladimir Scherbakov, Chairman of the Board of Avtotor, an automobile producer working under license of South Korean KIA, signed a general cooperation agreement.
In accordance with the agreement, Avtotor will produce automobiles for oil and gas production enterprises as well as upgrade serial cars manufactured by the plant and produce technical cars for the oil sector. All automobiles produced by Avtotor will be filled with fuel and lubricants made by LUKOIL.
In its turn, LUKOIL will provide lubricants and motor oils and will design new efficient types of lubricants, in line with technical requirements of the plant, for using in manufacturing and exploitation of automobiles.
In addition to that, LUKOIL and Avtotor will take responsibility for promoting Avtotorís automobiles and LUKOIL lubricants and motor oils through their distribution networks in Russia and abroad.
LUKOIL President Vagit Alekperov said at the signing ceremony that strengthening of cooperation between oil sector and automobile industry will promote formation of new efficient production and economic links and improve competitiveness of the Russian economy.
Prior to this, LUKOIL entered into similar agreements with Russian automobile producers KamAZ, AvtoVAZ, ZIL, GAZ, Yelaz, UralAZ, Izhmash.
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