2023-11-27 16:55:25
Russian President Vladimir Putin has given German auto and industrial supplier Schaeffler the green light to sell its Russian business. Schaeffler might then hand over the system to PromAvtoConsult, according to a statement published by the Kremlin on Monday. The Austrian entrepreneur Siegfried Wolf is behind PromAvtoConsult. According to previous information, the purchase price for the plant in Ulyanovsk is 10 million euros.
Among other things, Wolf sits on the Schaeffler supervisory board and leads the supervisory board at the automotive supplier Vitesco, which is being taken over by Schaeffler. From 2010 to 2019 he was Chairman of the Supervisory Board of the Russian GAZ Group. Wolf also owns the former MAN plant in Steyr in Upper Austria, which is now called Steyr Automotive.
Wolf’s interest in buying the plant in Ulyanovsk became known in March this year. According to the “Spiegel” report at the time, the contract was signed in December 2022. Suspected connections to the Russian oligarch Oleg Deripaska and the fact that the factory supports, among other things, the production of a transporter model that is to be used by the Russian military for its logistics caused criticism.
Kalina told the APA at the time that Wolf deeply condemned the Russian war in Ukraine and had therefore stopped his activities in Russia. In addition, he does not do business with people affected by international sanctions. The investor also pays attention to this when considering a possible purchase of the Schaeffler plant. Kalina also rejected the claim that military equipment was produced at the Russian factory. This is a vehicle that is only used in agriculture. Participating in arms deals would be unthinkable for Wolf, the spokesman said in a statement in March.
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