OREANDA-NEWS. March 29, 2012. Basic Element, one of biggest and dynamically developing holdings in Russia, announces that GAZ Group, a part of the holding, won the Best Performance nomination of the 15th international Russian automotive forum organized by Adam Smith Conferences for record results in productivity achieved in 2011, reported the press-centre of GAZ.

Basic Element, one of biggest and dynamically developing holdings in Russia, announces that GAZ Group, a part of the holding, won the Best Performance nomination of the 15th international Russian automotive forum organized by Adam Smith Conferences for record results in productivity achieved in 2011.

The average monthly revenue per employee increased by 43.5% vs. 2010. This was possible to achieve through manufacturing processes upgrade and reduction of non-productive costs. High productivity in 2011 made it possible for Basic Element to increase the salaries of GAZ Group’s employees by the end of 2011 to 26.5 thousand rubles from 21.2 thousand rubles in 2010.

To implement the development strategy of GAZ Group aimed at sustainable growth through systematic fundamental improvements, Basic Element involves the best world-class specialists. In 2009 Bo Andersson, former Vice-President of global purchasing and supply chain in General Motors Group, was appointed President/CEO of GAZ Group.

In 2011 Adam Smith Institute named Bo Andersson the best executive in the Russian automotive industry for achievements in model range renewal, establishment of cooperation between GAZ Group and leading international automakers, and positive financial results of the company in 2010.

Handing over the award, Graeme Maxton, American analyst, observer of the Economist and author of books on automotive industry, said: “Low productivity has traditionally been a weakness of the Russian industry. GAZ Group has been able to solve this issue by implementing lean production system and improving production efficiency.” Bo Andersson, President/CEO of GAZ Group, thanked the organizers of the forum and added that such effective results had been possible to achieve due to the high qualification of the company’s employees”.

About Basic Element
Basic Element is one of the largest, most dynamic and effectively-run business groups of modern Russia. Basic Element's main assets are concentrated in many economic sectors - Energy, Manufacturing, Financial Services, Construction, Aviation, Agriculture and others.

Basic Element through its affiliates owns significant stakes in and operates dozens of companies. Many of them play key roles in their respective market segments in Russia and internationally, including UC RUSAL, GAZ Group, Glavstroy Corporation, Basel-Aero and others. Over 250 thousand people work in Basic Element’s companies in Russia, the CIS, Africa, Australia, Asia, Europe and Latin America.