Acting within the governmental support to the car industry, VTB Bank has set a RUB 500 million credit limit to JSC Avtopribor for a two-year period.
The funds provided will replenish the working capital and ensure carrying out the company's obligations under agreements with the largest Russian car manufacturers.
VTB Bank is as a major lender to the Russian economy and actively finances enterprises of the national car industry. One of VTB priorities is to develop partnership relations with core enterprises in this sphere.
Established in 1932 in the city of Vladimir, Avtopribor is the first domestic plant by producing auto components. Nowadays, the plant is a largest enterprise of the Russian industry.
More than 30 Russian and foreign companies are customers of the company. Among them are AvtoVAZ, GAZ, KAMAZ, YAZ, ZAZ, Izh-Avto, MAZ, and also such plants as GM, FORD, KIA, FIAT and RENAULT that based their production in Russia.