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OCT 12011

Ford Sollers Joint Venture Starts Work Today in Russia; Announces Ford Explorer SUV to be Built in Tatarstan

  • Ford Sollers — the new 50-50 joint venture in Russia between Ford Motor Company and Sollers OJSC — officially started operations today
  • Alan Mulally, president and CEO, Ford Motor Company, and Vadim Shvetsov, CEO of Sollers OJSC, unveiled the latest version of the iconic Ford Explorer sports utility vehicle, which will be built in Russia starting in 2012
  • Ted Cannis appointed president and CEO of Ford Sollers; Adil Shirinov appointed executive director and COO of Ford Sollers
  • Ford Sollers to manufacture a range of Ford passenger cars and light commercial vehicles in the St. Petersburg region and in the Republic of Tatarstan, bringing more Ford vehicles to Russian customers
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  • Today’s announcement follows the recent confirmation that Ford Sollers had secured a long-term financing loan of 36 billion roubles from Russia’s Vnesheconombank

MOSCOW, Russian Federation, Oct. 1, 2011 — Ford Motor Company and

Sollers OJSC announced today that Ford Sollers, their 50-50 joint venture in Russia,

has started operations.

Alan Mulally, president and CEO, Ford Motor Company, and Vadim Shvetsov, CEO of Sollers OJSC, announced the formal commencement of the joint venture in

Moscow today, just eight months after the two companies signed the initial memorandum

of agreement.

“The Ford Sollers joint venture will help us accelerate our plan to offer a full lineup of

world-class vehicles to Russian customers,” said Alan Mulally, Ford president and CEO, speaking in Moscow at today’s announcement event. “This partnership marks another

important step in our One Ford plan to profitably grow around the world.”

Added Vadim Shvetsov, CEO of Sollers: “For Sollers, this is an historic event.

Our strategy has been to develop a partnership with a world class automotive player that

can offer a full range of vehicles suitable for the Russian market. Ford is the partner we

have been looking for to support this vision.

“We are certain this project will have a valuable impact on the Russian economy overall,

and will further strengthen the Ford brand’s position in the global auto industry.”

Mulally and Shvetsov used the occasion to announce that Ford Sollers will be producing

the iconic Ford Explorer in the Republic of Tatarstan in Russia next year.

The all-new version of the Explorer — with major improvements in power with an output of 294PS, refinement and fuel economy — has been a popular seller since it was introduced in

North America last year.

The Ford Explorer joins the new Ford Focus and Ford Mondeo, which are currently built

in St. Petersburg, and the Ford Transit medium commercial vehicle, which also will be

built in Tatarstan from 2012.

In addition to vehicle production, Ford Sollers will manufacture engines; operate a

stamping facility that will provide a higher level of local parts content for Ford vehicles

built in Russia; and establish research and development activities. It also will be

responsible for the import and distribution of all Ford brand products, parts and

accessories in Russia.

Today’s announcement follows the recent confirmation that Ford Sollers had secured

a long-term financing loan of 36 billion roubles from Russia’s Vnesheconombank to

help develop the Ford Sollers business.

The new Ford Sollers business will be headquartered in Khimki, Moscow Oblast, and will have three production sites; one in the Leningrad Oblast, and two in Tatarstan.

The Ford Sollers executive board also was announced at the inaugural event in

Moscow. Ted Cannis is appointed president and CEO of Ford Sollers. Cannis has

extensive experience as a leader at Ford around the world, including posts in the

United States and South America. He was previously the deputy general manager at

Ford Otosan, Ford’s joint venture in Turkey.

“I’m delighted to be leading the Ford Sollers team,” Cannis said. "We have a talented

and experienced management team drawn from Ford’s global operations and Sollers,

and an extremely capable work force in St. Petersburg, Tatarstan, and Moscow.

“Russia is set to become Europe’s largest market for new vehicles by mid decade.

This provides Ford Sollers, the Ford brand and our great dealer network with a huge

growth opportunity. All of us at Ford Sollers will be dedicated to doing the very best

for Ford customers in Russia and for our shareholders.”

Adil Shirinov is appointed executive director and chief operating officer of Ford Sollers.

He was previously a commercial director of Sollers and general director of Sollers-Isuzu,

where he was responsible for purchasing and localization for all the brands

manufactured under license by Sollers. In addition, Shirinov was in charge of the

production of commercial vehicles at the Sollers plant in Elabuga.