Russia AvtoVAZ CEO: main task to avoid bankruptcy

Newswire

TOGLIATTI, Russia, Sept 24 (Reuters) - Russia's largest carmaker, AvtoVAZ , is in critical financial condition and is trying to avoid bankruptcy, its chief executive officer said on Thursday. "Our plant is in critical financial condition. Losses for 2009 will amount to 35 billion roubles which raises very serious questions about our ability to keep running in the future," Komarov told a local TV channel. "Our main goal and aim is to avoid bankruptcy, which could lead to the plant being ...

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