VIENNA – OAO Severstal-Avto, the Russian company that controls SUV maker OAO UAZ and Russia’s second-largest engine manufacturer, OAO Zavolzhsky Motorny Zavod (ZMZ), will assemble Ssangyong Rexton SUVs under a new licensing deal. The project with South Korea’s Ssangyong Motor Co. Ltd. will be financed solely by Severstal-Avto, which belongs to Russian steel giant OAO Severstal. Prices will drop significantly for locally built Rextons. Severstal-Avto plans to construct a new plant ...
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