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Kamaz truck maker posts 440% rise in RAS net profit in 2006

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MOSCOW, April 2 (RIA Novosti) - Kamaz [RTS: KMAZ] said Monday its net profit calculated to Russian Accounting Standards (RAS) increased 440% year on year in 2006 to 721.2 million rubles (about $27.7 million).

Kamaz, which is based in the Volga Republic of Tatarstan, attributed its net profit growth to larger income from ordinary and other activities as a result of increased sales.

Kamaz, which was founded in 1976, earlier said it had sold 46,200 trucks in 2006, or 34% more than in 2005.

Kamaz, whose heavy-duty trucks have won the Paris-Dakar rally on several occasions, plans to boost truck sales by 19.5% to 55,200 vehicles in 2007, the company said.

Kamaz, which is majority-owned by the State Property Committee (34.01%), produces more than 30 models of trucks, as well as trailers, buses, tractors and spare parts. It also manufactures engines, power units, and components.

The truck manufacturer has assembly facilities in Poland, Kazakhstan, Azerbaijan, Ethiopia, Vietnam and Ukraine.

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