Regular meeting of the Board of Directors of KAMAZ Inc. was hold in Naberezhnye Chelny city on March 25.

The Board of Directors has reviewed preliminary results of performance of the Company’s business plan in 2003 and issues referring to arrangement of the annual shareholders’ meeting set for May 28.

Another important issue that has been discussed at the meeting was establishing of an industrial park on the territory of production facilities of KAMAZ Inc. The idea of bringing production of advanced vehicle components for supplying KAMAZ Inc. and other manufacturers next to the automobile giant was first announced at the end of the last year.

This Industrial Park will be established on the basis of “RemDiesel” CJSC. The project provides for introduction of lean production processes. Small- and medium-size private companies in cooperation with major business entities and various financial institutions of the area will supply components.

In March the Government of Tatarstan has signed its Resolution on establishing of the industrial park and has allocated 150 million Rubles from the Republic’s budget to launch this project. Presentation of the project will be in April.

Tuesday, 30 March 2004

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