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June 15, 2009
An Expeditionary Investment
By Tom Balmforth
Special to Russia Profile
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Russia’s ailing car industry, which has been badly hit by the global financial crisis, got a shot in the arm on May 30, when a consortium made up of Russia’s Sberbank and Canada’s Magna took over the German car manufacturer Opel. Opel’s Western technologies and product range should give the Russian car industry a much-needed competitive boost, when demand begins to recover from the economic crisis. But the deal also represents the Kremlin’s latest effort to penetrate European markets.

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