GAZ Group as apart of Russian Machines holding is included into the list of backbone companies approved by the Russian Federation Government on February 5, 2015.
GAZ Group is included into the list of Russia’s backbone companies as a part of Russian Machines holding, which, in turn, is a part of Basic Element, one of largest Russian diversified industrial groups. Russian Machines holding was also included into this list in 2008 with a specifying notice “including OJSC GAZ”. In 2015 the Ministry for Economic Development of Russia decided to include into the list vertically integrated holdings without any specifying references to companies that form them in order to avoid bloating the list.
As per the methodology posted on the Ministry’s website the list is to include “legal entities under jurisdiction of the Russian Federation that have a significant influence on the GDP formation, employment and social stability and that belong to industrial groups, holding structures, vertically integrated companies (the list shall specify the name of the managing company or the parent organization of a group)”.
Therefore, the list approved by the Russian Federation Government specifies the name of the parent organization of GAZ Group – Russian Machines holding.
Elena Matveeva, GAZ Group Vice President:
– GAZ Group meets all the backbone companies selection criteria established by the Ministry for Economic Development of Russia, such as presence of technological capabilities, significance for preserving infrastructure and production chains, impact on social stability, implementation of long-term investment projects.
As far as quantitative criteria, such as headcount, total revenue, taxes paid to all budget levels, are concerned, GAZ Group exceeds the minimum required values many times over.
Currently GAZ Group actively works with industry-specific anticrisis commissions of the Russian Federation Government and participates in the monitoring of socio-economic condition of backbone companies conducted by the Ministry of Industry and Trade of Russia.
