MOSCOW – Renault SA and the city of Moscow approve an increase in the capital stock of their 50/50 joint venture, OAO Avtoframos, by $40 million. Avtoframos assembles 100 Renault Symbols per month. The two partners will maintain parity in the JV, with each retaining its 50% stake. A plan to increase Renault’s share to 62%, which was announced in October 2002, has not been realized. Currently Avtoframos assembles about 100 Renault Symbol small sedans per month from kits ...
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