OREANDA-NEWS. On 26 May 2008 was announced, that A.D.Tyan, General Director ZAO Sovtransavto Holding Company, and S.N.Pushkin, President of JSC TransCreditBank,  signed   Long-term Cooperation Agreement.  The document was executed and delivered during the International Transport Forum “Russia’s Transport - 2008” in Sochi.

Pursuant to this Agreement the Bank will finance leasing projects of Sovtransavto and subsidiaries and dependent companies.  TransCreditBank will finance projects of the Company for creation and modernization of transport infrastructure facilities (fleet operators, repair companies, transportation and logistics complexes).  In addition, the Bank will advance short-term loans to finance day-to-day operations of Sovtransavto and offer various state-of-the-art banking services to the Company and its employees.  The parties intend to cooperate in other areas of mutual interest.

A.D.Tyan, General Director of Sovtransavto, said: “.. the company intends to boost the scale of our business dramatically in the next few years.  Therefore, it is very important for us to have such reliable financial partner as TransCreditBank who understands specifics of transportation business and has a successful record of major projects, in particular in rolling stock leasing”.

S.N.Pushkin, President  of the Bank, said: “ …execution of this Agreement means a new stage of our cooperation which is developing very rapidly.  Sovtransavto is the largest lessee under MoT-MAN program where leasing contracts for over 500 tractors with trailers have already been signed or are in the pipeline ”.