IzhAvto's debts to creditors reached 13 billion rubles by the end of last year, of which 9 billion to Sberbank. When it became finally clear that the company was not able to repay any debts or interest on them, it was declared bankrupt, external management was introduced, and bankruptcy proceedings were appointed.
It only sounds encouraging - “bankruptcy proceedings”. The term means the total sale of everything that belongs to a bankrupt, with the subsequent distribution of proceeds between creditors.
However, the property of the car factory, even if it is “undressed” to the nut, is estimated below the amount of debts. The head of Sberbank German Gref only recently grieved: he did not expect to repay the loan in full.
Today, Mr. Gref can perk up. According to RBC daily, Russian Technologies signed an assignment agreement: IzhAvto's obligations to the SB are taken over by the corporation and will redeem the debt from its own and budgetary funds.
In this place, a diligent taxpayer will startle: “What, again, salvation at my expense ?!” And he will remember how budget money was pumped into a drowning AvtoVAZ.
Everything is so, but it must be taken into account that if millions hadn’t poured into the Volga Automobile Plant, they would have had to spend at least (rather, more) on the social support of the hundreds of thousands of workers who lost their jobs in the Togliatti bankrupt and his many related people. Plus a ton of other unavoidable expenses. In the case of IzhAvto events could have been the same. But he has always been a significant component of the Russian automobile industry.
“So Sberbank would save him - he won’t lose this monster, ” the taxpayer will snap. But let’s evaluate the construct of the new situation without emotions.
"Monster" will not be allowed to rest on gold - it is firmly tied to the revival program of the Izhevsk enterprise. Being the main creditor of the sinking plant, the bank literally until the middle of December last year considered the Hyundai-Kia alliance as a strategic partner of the plant. The reputation of the Koreans is absolutely not tarnished, however (nothing personal - just business!) In the government of the country saw a partner more effective.
Last December, Russian Technologies, AvtoVAZ (let's not forget that Renault and Nissan are behind it), as well as Sberbank, in the presence of the Prime Minister, signed a memorandum on the development of the Izhevsk automobile plant. Sberbank credits AvtoVAZ’s purchase of the most valuable assets of IzhAvto - fixed assets, and will also help with financing the program for the development and modernization of the enterprise. According to the business plan proposed by the AVTOVAZ-Renault-Nissan alliance, 126 thousand cars can be produced in Izhevsk already this year, and 300 thousand in 2014. About half of them will be Lada cars, the other half will be Renault and Nissan .
There is no doubt that the new scheme for the restoration of IzhAvto forces was appreciated by Vladimir Putin and he introduced a powerful and proven Franco-Japanese partner into it. Such a patronage inspires confidence in the success of the project.