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GAZ invests $100 million in new Maxus production in Britain

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GAZ Group has invested over $100 million to develop new modifications of its Maxus light trucks in Britain, the Russian automaker said Tuesday.
MOSCOW, April 24 (RIA Novosti) - GAZ Group has invested over $100 million to develop new modifications of its Maxus light trucks in Britain, the Russian automaker said Tuesday.

Starting July 2007, GAZ plans to gradually launch the production of seven new Maxus modifications at its LDV plant in Birmingham, including minivans for 12, 15 and 17 seats, platform trucks and dump trucks.

GAZ acquired a 100% stake in LDV, a British van manufacturer, in July 2006. The shares were bought from Sun Capital, a U.S. fund. LDV, formerly Leyland DAF Vans Limited, produces about 15,000 vehicles a year.

GAZ plans to start production of Maxus trucks in Nizhny Novgorod, in Russia's Volga Region, in 2008, building up to 20,000 trucks in the initial stage.

GAZ Group was established in 2005 after RusPromAvto restructured its production assets. Based in Niznhy Novgorod, GAZ supplies vehicles to 29 countries in the former Soviet Union, Eastern Europe, Southeast Asia, Africa, Latin America, and the Middle East.

Altogether, GAZ produces about 200,000 vehicles a year.

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