OREANDA-NEWS. Magna International Europe AG, OJSC “Russian Machines” and OJSC “Group GAZ” have signed the joint memorandums of strategic cooperation in the field of manufacture and assembly of automobile units and components in Moscow.

The signing opens a road to creation of modern auto-component business in Russia. With this purpose OJSC “Russian Machines” (basic shareholder of OJSC “Group GAZ”) founded the company “RM Systems”, which will be entirely focused on manufacture of ready automobile units and separate accessories. The company is a 100 percent daughter of “Russian Machines” and is completely independent from the Group GAZ.

Its production will be intended for all large car building enterprises of Russia.