Moscow automobile producer posts 2002 financial results

Net loss of the Moscow automobile manufacturer ZIL amounted to 1.948bn rubles ($62.84m) in 2002, compared to a 1.479bn ruble ($47.7m) loss in 2001, the company said in its report. Sales proceeds were 3.457bn rubles ($111.52m). Gross loss was 783.868m ($25.29m) in 2002. Losses before taxes amounted to 1.545bn rubles ($49.84m).

Last year the plant manufactured 12,010 automobiles, which was 27.5 percent lower than in 2001.

ZIL's charter capital amounts to 3.392bn rubles ($109.42m) and it is divided into 2,659,962 common shares and 731,654 preferred shares with a 1,000-ruble ($32.26) par value. The main shareholders are the Moscow department of state and municipal property (39.68 percent) and Bank of Moscow (22.38 percent).