OREANDA-NEWS. January 29, 2013. The Board of Directors of OJSC KAMAZ, the meeting of which was held at the end of last year, approved the Strategic Development Program for the period till 2020 as amended.

The Strategic Development Program of OJSC KAMAZ for the period till 2020 was updated with account taken of changes in the surrounding business environment, new realities and forecast of the global and domestic economy development under conditions of high uncertainty.

The truck market forecast was revised on the basis of a conservative scenario, with account of negative factors – Russia`s accession to the WTO and increased competition, a fall in demand after the introduction of Euro 4, a sales slowdown in foreign markets due to poorer global market conditions.

KAMAZ determined the key tasks in response to these challenges: to introduce KAMAZ trucks of the new generation in the market, to radically modernize equipment, to bring business efficiency up to the benchmark of the leading automobile companies.

Keeping the strategic development priorities (the key market is Russia, positioning itself in the medium price segment, developing the integration with Daimler), the company adjusted truck sales volumes (60 thousand units in 2015, 80 thousand units in 2020) and revenues (RUB 170 billion and RUB 350 billion, respectively). The share of foreign sales will be 18% in 2015 and 25% in 2020.

The investment program was also revised. The cumulative value of investments for the period till 2020 is planned to be 62 billion roubles now.

Achievement of the strategic goals will contribute to a higher business performance (EBITDA, as % of the revenue, will be 12% in 2015 and 14% in 2020), primarily due to the new model line production, reengineering, increased labour productivity, asset restructuring.

The strategic targets of the company is to become "Adaptive. Effective. Global". They are reflected in the strategic vision: “KAMAZ is the national industry leader, major international player in partnership with Daimler”.