The construction of the Taganrog Automobile Factory started in spring 1997, under license and technology of South Korean concern Daewoo and was fully financed by Doninvest Finance & Industry Group with investment volumes of more than 260 million dollars. The newborn state of the art factory was commissioned in September 1998 when Doninvest launched the pilot CKD production of the Daewoo Lanos car. The technology of automotive industry in Taganrog represents a sophisticated work package consisting of welding, painting of car bodies, assembly and finishing of the car.
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The annual production capacity is 120,000 vehicles
in two shifts. As a result of economic turmoil
in Russia and Asia in 1998-1999 (including Daewoo's
bankruptcy), the production level of the factory fell
sharply. The activity was revived after DONINVEST
changed its strategic partner and signed agreements
with Hyundai and Citroen. The sales forecast for the
current year 2004 is 12,000 Hyundai Accents (with
1800 cu.cm. of engine displacement).
With the launch of middle-class sedan Hyundai Sonata
(engine displacement 2000 or 2700 cu.cm.) at the end
of 2003, the sales volumes in the next year reached
18,000 vehicles per annum. The current goal of the
assembly plant in Taganrog is to produce 60,000 units
annually starting 2006 and 120,000 units annually
starting 2009.
Read TAGAZ press and financial releases on TaganrogCity.Com:
May 5, 2008
April
27, 2007
March
24, 2007
March
13, 2006
January
31, 2006
October
3, 2005
June
1, 2005
