SOK Group

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SOK Group
Company typeClosed joint-stock company
IndustryDiversified
Founded1994
Defunct2011
Headquarters
Samara
,
Russia
Websitewww.sok.ru

The SOK Group (Russian: Группа «СОК») was a Russian holding company established in 1994 and based in Samara, Russia.[1] Yuri Kachmazov was the group's president.[2]

The name SOK was originally an acronym for 'Samara Window Company'.[3]

History

The RosLada factory in 2005

The SOK Group started in 1994 as an AvtoVAZ dealership, growing to become one of the main automotive companies in Russia.[4] SOK managed to gain control of RosLada, an automotive plant that had been established in 1998 on the grounds of the former Luch Design Bureau in Syzran,[5] and used it to produce old AvtoVAZ models.[6]

In 1999 the ownership of the Izhmash-Avto plant in Izhevsk, which produced old AvtoVAZ models under the Izh brand, was transferred to the group.[7] SOK also included over 40 other factories, mostly in the automotive component business, and employed over 100,000 workers.[6]

Revenues grew from $19 million in 1999 to close to $200 million in 2002.[4] It was the second largest passenger car producer in Russia after AvtoVAZ, with production totaling 121,172 cars in 2002.[6] In August 2003 VAZInterService became part of the group.[8]

By 2004 the group had $2 billion in revenues and supplied 37%-50% of all AvtoVAZ accessories; AvtoVAZ could not withdraw from such cooperation agreements without paying SOK $492 million in penalties.[9] In October 2005 SOK reportedly owned over 60% of AvtoVAZ shares, and ousted Vladimir Kadannikov, the company's chairman.[10][9]

SOK group attempted to gain control of AvtoVAZ, which was instead gained by the state-owned Rostec corporation. The Rostec-appointed AvtoVAZ management began to phase out or rescind supply contracts between SOK and AvtoVAZ.[11]

In 2008, SOK began negotiations to sell the IzhAvto plant to AvtoVAZ.[12] In 2009 the group was forced to sell its automotive components holdings to AvtoVAZ, after SOK had disrupted the schedule of deliveries to the company.[13] The components business ultimately came under control of Rostec as the United Automotive Technologies group.[11] In 2010 the president of the group, wanted over allegations of fraudulent conveyance during the IzhAvto bankruptcy of 2009, escaped to the United Arab Emirates.[12] The group's last assets were sold in January 2013.[14]

Models

Car models produced by the group:[15]

Non-automotive assets

References

  1. ^ "История развития Группы "СОК"". 13 August 2006. Archived from the original on 13 August 2006. Retrieved 2 June 2017.{{cite web}}: CS1 maint: bot: original URL status unknown (link)
  2. ^ "Media executive severely beaten". Committee to Protect Journalists. Archived from the original on 29 July 2014. Retrieved 2 June 2017.
  3. ^ "DOMINO THEORY: AvtoVAZ following GAZ falling to new owner?". 12 December 2000. Archived from the original on 12 July 2012. Retrieved 6 July 2017.
  4. ^ a b Inc, IBP (2009). Russia Automobile Industry Directory - Strategic Information and Contacts. p. 141. ISBN 9781438740249. {{cite book}}: |last1= has generic name (help)
  5. ^ "Променяли машины на плитку". Vedomosti.ru. 15 March 2007. Retrieved 2 June 2017.
  6. ^ a b c A Review Of The Russian Automotive Component Sector (PDF). International Finance Corporation. 2004. p. 47.
  7. ^ Chivers, C. J. (15 November 2004). "Workers Feel the Growing Pains of Russia's Auto Industry". The New York Times. Retrieved 2 June 2017.
  8. ^ "История и структура". ВАЗинтерСервис. 30 December 2004. Archived from the original on 30 December 2004. Retrieved 2 June 2017.{{cite web}}: CS1 maint: bot: original URL status unknown (link)
  9. ^ a b "An in-depth look at the Russian press, October 28". Sputniknews.com. Retrieved 2 June 2017.
  10. ^ Емельянова, Екатерина; Трифонов, Владислав (28 October 2005). "Владимир Каданников выработал ресурс". Газета "Коммерсантъ". p. 1. Retrieved 2 June 2017.
  11. ^ a b "Как группа "СОК" проиграла битву за АвтоВАЗ: расследование". Forbes.ru. Archived from the original on 26 November 2016. Retrieved 2 June 2017.
  12. ^ a b "Investigators Say IzhAvto Owners Stole Assets". Moscow Times. Retrieved 2 June 2017.
  13. ^ "AvtoVAZ could buy the business of its largest supplier". Autostat.ru. Retrieved 2 June 2017.
  14. ^ "Группа "СОК" продала последний актив в России". РБК. Retrieved 2 June 2017.
  15. ^ "Структура бизнеса Группы "СОК"". 12 August 2006. Archived from the original on 12 August 2006. Retrieved 2 June 2017.{{cite web}}: CS1 maint: bot: original URL status unknown (link)
  16. ^ "Societe Generale to issue 3-year bonds on Russian market". Sputniknews.com. Retrieved 2 June 2017.

External links

Retrieved from "https://en.wikipedia.org/w/index.php?title=SOK_Group&oldid=919219519"